Key Technology (KTEC) to Cut 8% of Global Workforce
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Key Technology Announces Cost Reduction Initiatives
June 26, 2014 4:05 PM EDTWALLA WALLA, Wash., June 26, 2014 (GLOBE NEWSWIRE) -- Key Technology, Inc. (Nasdaq: KTEC), a worldwide leader and full-solutions provider in the design and manufacture of process automation systems, announced today that it is taking cost reduction initiatives during the third quarter of its fiscal 2014 that include a planned reduction of approximately 8% of its global workforce. Company earnings for the third quarter of fiscal 2014 will be adversely affected by an estimated pre-tax charge of approximately $1.2 million related to the workforce... More
