TECHNOLOGY - Sept. 19, 1996
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Tencor Trims Work Force: The California semiconductor company announced it has reduced its work force by nearly 15%, affecting about 220 regular and contract employees primarily in manufacturing and administration. The number of regular employees affected was limited to about 130 because of the company’s long-term strategy to manage capacity using a temporary work force. The majority of the affected employees were located at the company’s headquarters in both Mountain View and Santa Clara, Calif. Employees affected by the reduction will receive extended benefits based on length of service, as well as outplacement assistance. Tencor Instruments’ reduction in force is only one of a number of cost-containment measures it has implemented in recent months. Tencor stock fell $2.375 to $17.20 on Nasdaq.
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