June 1, 2001 – Newport, Wales, United Kingdom – Trikon Technologies Inc. announced today that it had initiated a cost reduction program that will reduce its quarterly operating costs by approximately 10% with measures that include a 12% global headcount cut.
The program comprises a selective reduction in expenditures and payroll costs. The large majority of job cuts will come from temporary and contract personnel required in manufacturing operations to meet the record shipments of recent quarters.
“These are prudent measures for the depressed and uncertain market conditions in which we are presently operating,” said Nigel Wheeler, president and chief executive officer. “Our aim is for profitable operations during the lower revenue levels we are now expecting in the second half of this year. At the same time we are also strategically positioning ourselves for high growth when market conditions allow. This cost reduction program is therefore targeted at improving cost efficiencies, minimising discretionary expenditures and only reducing headcount where lower operating levels allow. Trikon’s research, development, engineering, sales and marketing remains as strong as before, focused on the long-term growth opportunities in leading edge silicon and the communications driven opportunities in wireless and opto device production.”
Trikon develops, manufactures and markets advanced capital equipment for plasma etching and chemical and physical vapor deposition (CVD and PVD) for use in the production of silicon and compound semiconductors, opto-electronic and planar opto devices.