Merix to cut 180 jobs, close Oregon plant

Merix to cut 180 jobs, close Oregon plant

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Story Published: Jan 9, 2008 at 6:30 PM PDT

Story Updated: Jan 9, 2008 at 8:55 PM PDT

By Associated Press

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BEAVERTON, Ore. (AP) - Merix Corp., which makes printed circuit boards for electronics, said Wednesday it will cut 180 jobs in North America and close its Wood Village operations.

The Beaverton-based company said the closure is effective March 1 and was due to "economic and other business reasons." The Wood Village facility closure affects about 130 employees.

The company has struggled. In January, Chairman and Chief Executive Officer Mark Hollinger announced he would leave.

This week, the company reported a loss of $5 million, or $0.24 per share, for the second quarter.

The performance did not meet the company's expectations, which executives say led to the North American cuts.

Included in the second-quarter loss was $1 million in severance costs associated with a Hong Kong factory closure previously announced.

The reductions in the U.S. primarily affect the company's North American manufacturing operations and, to a lesser extent, other support functions. The cuts and other internal changes are anticipated to save the company $11 million a year.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

 

 

 

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