GSI Lumonics Restructures UK Operations

KANATA, Ontario, Dec. 8 -- Because of a delay in the development of a high-power laser system for the automotive market, GSI Lumonics Inc. has cut 80 employees from its facility in Rugby, England and other distribution support positions worldwide. The company needed to bring expenses associated with the laser product in line with revenues, said GSI Lumonics.
While this action is unfortunate, it is taken to preserve the operating performance of the company both for the near and long term. It will not negatively affect our success in the areas of strongest opportunity for future growth, said Charles Winston, president and CEO of GSI Lumonics.