July 10, 2001 – Westwood, MA – ADE Corp. has reduced its workforce by approximately 5%, as part of a cost-cutting program that is being implemented in response to softening market conditions. All job reductions were associated with ADE’s New England facilities and were preceded by actions taken to reduce non-essential spending.
“The uncertainty of the current climate in our industry dictates that we take these actions to ensure the short and long-term health of our company while continuing to invest in the new products our customers need to keep pace with technological progress,? said ADE President and CEO Robert Abbe. ?We are also implementing additional initiatives to streamline the fundamental cost structure of our company, improve asset management, and provide long-term value to our shareholders. During this industry-wide slowdown, ADE remains fully committed to supporting its customer base with new products that offer the very best tools and technology solutions needed to maximize semiconductor manufacturing productivity.”