June 1, 2001- Danvers, MA – Ibis Technology Corp. has reduced its headcount by 14%, in addition to other cost cutting measures. The company cites the continuing downturn of the semiconductor and telecommunications industries as the reason for the cutbacks.

“As a result of our revised outlook, we have implemented several cost-cutting programs, including reducing headcount by approximately 14%, cutting pay for senior executives, and lowering non-essential discretionary spending,” said Martin Reid, president and CEO of Ibis. “The headcount reduction, which affected both temporary and regular full-time positions, is primarily the result of temporarily suspending the weekend night shift at Ibis’ Danvers facility.”

“We are focused on keeping our costs in line with revenue levels while maintaining our critical spending in key areas,” continued Reid, “such as introducing the new Advantox MLD process technology and the development of our new Ibis 2000 implanter for the production of both 200mm and 300mm SIMOX-SOI wafers.”