While announcing its fiscal 2015 third-quarter results, KLA-Tencor said it would reduce its global workforce by up to 10% in response to changing customer requirements. For the quarter ending March 31, the company reported GAAP net income of $132 million and GAAP earnings per diluted share of $0.81 on revenues of $738 million.
“KLA-Tencor delivered solid results in the third quarter,” said Rick Wallace, president and chief executive officer of KLA-Tencor. “As the market leader in process control, we believe our technology leadership and strong product portfolio create a unique opportunity for KLA-Tencor to benefit from the 3D device and multi-patterning industry transitions currently underway in the industry, and deliver long-term value for our customers and stockholders.”
The company said it expected to substantially complete the employee reduction by the end of the first quarter of its 2016 fiscal year, although timing might vary by country based on local legal requirements.
In the Wall Street Journal, Maria Armental writes that the workforce realignment will include scaling back the company’s investment in extreme ultraviolet (EUV) lithography.
