April 3, 2001 — Two Massachusetts semiconductor companies – PRI Automation and Varian Semiconductor Equipment Associates, Inc.- cut nearly 500 jobs last week amid a downturn in the industry.

PRI, which is based in Billerica and provides advanced factory automation systems and software, cut 370 workers, or about 20 percent of its workers. Around 300 of those jobs were in Massachusetts.

Meanwhile, Gloucester-based Varian, which provides technology and process solutions to companies that design and produce semiconductor devices, cut 100 jobs from its workforce.

According to PRI officials, the current industry slowdown has forced many companies to delay placing orders and cancel orders in backlog.

“As difficult as these cost-cutting measures are, they are necessary in order to bring our expenses in line with current business projections,” said Mitch Tyson, president and CEO of PRI. “Our goal during the downturn is to align our expenses with anticipated business levels, while maintaining critical investments in new product development.”

Both companies recently lowered their respective quarterly expectations.