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Teradyne Lays Off 11% of Workforce and Halts Construction

BOSTON-Teradyne, Inc. slashes another 11% off its work force, with 120 employees in this state being laid off. The company says that its facilities here won't be affected but the company recently put a halt to construction on three new facilities in Bedford.

By Naomi Grossman | Updated on September 19, 2001

BOSTON-Teradyne Inc. is cutting another 11% of its workforce and trimming the salaries of those left by up to 15%. The company is one of the world’s largest suppliers of automatic test equipment, high-performance interconnection products and total systems integration services.

After the employee layoffs of about 1,000 people worldwide, the company will have 8,000 employees left. About 120 out of the 500 employees in this state will be laid off, according to Tom Newman, vice president of corporate relations for the company. “The business is in a significant slowdown,” Newman tells GlobeSt.com. “Ever since the middle of last year we’ve had to deal with reduced orders and shipments and that won’t be resolved quickly.”

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