BILLERICA, Mass. (AP) -- GSI Group Inc., which makes motion-control products, said Monday it will cut its U.S. workforce by 10 percent in the first half of the year, and take a $1.5 million charge in the second-quarter, as it shutters facilities due to a weak market.
The layoffs began last quarter and stem from ''softness in the semiconductor markets and the reduction in the number of facilities in North America,'' the company said.
GSI expects a restructuring charge for the three months ending in June of approximately $1.5 million for severance and lease impairment costs.
The company did not disclose the number of people potentially affected by the jobs cuts. At the end of last year it reported having a total of 1,363 people on its payroll.
In February, GSI said it planned to consolidate its three Massachusetts manufacturing facilities into a single facility, ''in light of the anticipated weaker business outlook.''
The company also reiterated its first-quarter profit outlook of earnings per share between 2 cents and 6 cents and revenue between $66 million and $72 million.
Shares fell 45 cents, or 5.5 percent, to $7.70 in morning trading, and hit a 52-week low of $7.48 earlier in the session.
