Teradyne Connection Systems to close San Diego facility, lays off 125

Aug. 9, 2002 – Nashua, NH – Teradyne Connection Systems, a division of Teradyne Inc., has filed its intention with the State of California to cease production at its San Diego printed circuit board facility and to lay off approximately 125 people employed there by the end of the year.

“The depth of the recent downturn has been unprecedented,” said Richard Schneider, president of Teradyne’s Connection Systems division. “Unfortunately, we are not seeing a significant recovery in the second half of 2002 that will enable us to support the San Diego capacity. Our focus now will be on executing a flawless transition of work to our Nashua plant, supporting our customers, and providing outplacement services for all affected employees.”

Teradyne acquired the San Diego facility in August 2000. Since that time the company has invested in upgrading
equipment, training employees, and improving environmental compliance. The division’s success in improving operational results and technical capabilities was not enough, however, to offset the impact of the economic downturn.

Teradyne will be working closely with its customers to support all requirements as production transitions to Nashua, New Hampshire where the company operates 214,000 ft.2 printed circuit board fabrication facility.


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