Aug. 28, 2002 – Hillsboro, OR – TriQuint Semiconductor Inc., has reduced 7% of its worldwide work force.
The reduction affected about 15% of the 465 employees in Hillsboro, OR, where the company recently upgraded from 4-in. to 6-in. wafers. This also affected about 10% of the 425 employees in Richardson, TX, where the company recently consolidated its Texas manufacturing facilities.
TriQuint has approximately 1,600 employees worldwide.
The company expects to take a charge of approximately $0.01/diluted share for severance related benefits for these workers in 3Q02.
“This is a difficult but necessary action impacting a loyal and hard working team of employees. However, with the continued impact of slow telecommunications spending, we are adjusting our work force at these locations to better match capacity with demand,” said Ralph Quinsey, president and CEO. “Our SAW filter business at Sawtek, located in Orlando, FL, and Costa Rica, continues at record production and no reductions in force are planned for these locations.”