Monday, September 15, 2008

LTX-Credence Cuts Jobs In Hillsboro

LTX-Credence, a manufacturer of semiconductor test equipment, disclosed in a filing Friday that it has approved a plan to terminate employees as part of the merger of LTX and Credence. Credence has a major presence in Hillsboro, Oregon, where it employed 220 at the time of the merger. According to the SEC filing by LTX-Credence, it will terminate employees in various locations, in connection with implementation of its integration plan. Specific impact on Hillsboro was not given, however, according to a report by the Oregonian, the cuts affected 60 workers. In its filing, LTX-Credence also said that it plans to close "certain redundant facilities" associated with the merger--specific facilities were not announced. Credence is based in Milpitas, California; LTX Corp. is based in Norwood, Mass.