December 11, 2008

Advanced Energy to cut 7 percent jobs

According to Reuters: “Advanced Energy Industries Inc, a maker of power conversion and control systems, said it plans to reduce its global workforce by 7 percent to cut costs and expects a related charge of about $1.9 million in the fourth quarter.”

“Advanced Energy said it will be eliminating 114 jobs, “across all functional areas and geographies” and that the move would increase the total tally jobs cut by the company in 2008 to 185.”

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