CyberOptics Corporation Cuts Workforce 10%
CyberOptics Corporation (NASDAQ: CYBE) today announced the completion of
a restructuring and staff reduction totaling approximately 10% of its
global workforce. This action was taken in response to continued
softening of the electronics market, which has resulted in significantly
reduced revenue during the first two months of the fourth quarter.
Management currently anticipates fourth quarter revenue will range
between $5.5 million and $6.0 million.
Kathleen P. Iverson, chief executive officer and chair, commented: “The
downturn in the global electronics market, which affected our operating
results through the first nine months of 2012, has deepened considerably
in the fourth quarter. All electronics manufacturers now appear to be
deferring capital equipment orders and likely will continue doing so