Key Technology Inc. (KTEC) said Friday it expects a sales slump in its fiscal fourth quarter due to delivery delays, offering the dimmer view as it also disclosed plans to trim its work force.
The designer and manufacturer of process automation systems cut 3.5 percent of its global workforce Thursday, Key President and Chief Executive Officer David Camp said. The staffing reduction was mostly concentrated in China but included management and technical positions at the Avery Street plant in Walla Walla, he said.
The move was intended as a cost-cutting measure designed to increase efficiencies by consolidating internal operations under a smaller number of managers.
"We did that in a number of circumstances -- to look at our alignment and make things as efficient as possible,"Camp said this morning.
Camp said no more layoffs are expected
Related article in WSJ (subscription required)
Staff reduction of 3.5% globally at Key Technology
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