Hutchinson Technology, Inc. (HTCH) Plans 100 Job Cuts

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Go back to Hutchinson Technology, Inc. (HTCH) Plans 100 Job Cuts

Hutchinson Technology Announces Cost Reductions

May 20, 2014 4:01 PM EDT

HUTCHINSON, Minn., May 20, 2014 (GLOBE NEWSWIRE) -- Hutchinson Technology Incorporated (Nasdaq: HTCH) announced today that it is taking actions to further reduce costs and preserve cash. The company expects to reduce its U.S. workforce by approximately 100 positions by the end of July and estimates that its fiscal 2014 third quarter financial results will include approximately $1.3 million of severance charges related to this action.  "As we've progressed through our consolidation effort, additional opportunities to improve our efficiencies and reduce our costs have been identified," said Rick Penn, Hutchinson Technology's president and chief executive officer. 

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