Solectron Corp., which provides electronics manufacturing and supply chain management services, announced Thursday that it will reduce its workforce as part of a restructuring plan.
The company expects restructuring and impairment charges to be between $50 to $60 million, with 90 percent of that being cash expenditures.
The restructuring plan, which Solectron anticipates to be completed within the next 12 months, will include a workforce reduction of 1,400 and the consolidation of 700,000 square feet of facilities in Western Europe and North America.
For the fourth quarter of 2006, Solectron reported sales of $2.9 billion, which is a 7.4 percent increase over the third quarter’s $2.4 billion.