MILPITAS, Calif. (AP) — Semiconductor manufacturing equipment maker Nanometrics Inc. said late Wednesday it plans to cut about 7 percent of its work force to reduce costs.
The company said the cuts affect workers in each of its worldwide locations. Nanometrics plans to record a first-quarter restructuring charge of about $600,000 as a result.
The company believes it is ''prudent to act in response to the softness currently seen in the semiconductor capital equipment industry,'' said Tim Stultz, president and chief executive, in a statement.
Nanometrics expects the cuts to lead to cost savings in the second quarter.
