Artesyn to Close O.C. Plant and Lay Off 20% of Its Work Force
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Artesyn Technologies Inc., a maker of power-conversion equipment for the telecommunications industry, said Tuesday it is closing its Huntington Beach plant and has increased the number of people it plans to fire to 1,800, or 20% of its total work force, as demand for its products falls.
The plant probably will close by the end of August, said spokesman Richard Leland. About 50 technicians will be terminated. Of the 18 engineers at the plant, some will be fired, while others will have the opportunity to work at home or may be offered jobs at the company’s Fremont facility, he said.
The facility, which Artesyn acquired in 1995, is used for warranty and repair work.
Artesyn, which is based in Boca Raton, Fla., said last month it would close a plant in Broomfield, Colo., and fire as many as 600.
During the second quarter, Artesyn customers canceled more than half of the total $64.1 million in orders.
The company reported a second-quarter loss of 17 cents a share, excluding the impact from restructuring and other charges.
The job cuts are expected to save the company $40 million annually.
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