U.S. Markets closed

Mattson Technology announces plans for Phase IV cost-reduction program

Mattson Technology announced the finalization of plans for Phase IV of its cost-reduction program, which primarily entails a broad reduction in force across all areas of the company. The total estimated reduction in annual operating expenses for all four phases of the cost-reduction program is expected to be $30M. Combined with the ongoing gross margin improvement efforts, the company's cash flow breakeven point is expected to be reduced to the mid to high $20M quarterly net sales level by the end of Q1.