SAN DIEGO, Oct. 31 -- Cymer Inc. plans an approximate 11 percent reduction in its worldwide work force as part of the cost-reduction program. The reduction will trim the company's headcount from approximately 900 to 800 employees worldwide.
Pascal Didier, Cymer's president and chief operating officer, said, "A reduction in force is a difficult experience for everyone involved. However, given the severity of the ongoing slowdown in the semiconductor industry and the lack of visibility beyond one quarter, this aggressive action is a necessary step to meet our obligations to our shareholders."