Keithley cuts 5% of global workforce

Keithley Instruments will cut 5% of its global workforce as part of a restructuring scheme to reduce operating expenses by approximately 7%.

September 29 2008, 2:35 PM

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Test & MeasurementThe cuts would amount to about 35 people, which employed close to 700 at its headquarters in the Solon, Ohio, United States, in Europe and in Asia (figures are from 2007). These 35 jobs will include layoffs and vacated positions that will not be filled.

"We're trying to size the organization properly for the level of business that we see today," Cleveland.com cites Mark Plush, Keithley's vice president and chief financial officer in saying. However, he also stated that the company has not changed plans for the development of products, the report goes on.

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