Tuesday, November 18, 2008

KLA Tencor Chops 15 Percent

Milpitas-based KLA Tencor said this afternoon that it has cut 15 percent of its staff, in an effort to lower the company's quarterly operating expense run rate. According to the firm, it will make the cuts by June 30, 2009. Number of employees affected by the move was not disclosed, however the firm said that it expects to charge $15 million to $20 million in severance. The firm said the move was a response to the "current demand environment."