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Advanced Energy Industries, Inc.
Advanced Energy Reaffirms Fourth Quarter Guidance and Announces Workforce Reduction and Other Cost-Saving Measures
January 2nd, 2009
Advanced Energy Industries, Inc. (NASDAQ:AEIS) announced that, in order to better align its cost structure with current market conditions, the company will reduce its global workforce by approximately 114 people or 7 percent of its total workforce. This reduction will be across all functional areas and geographies; however the company remains committed to its product development strategy and remains focused on investing in key market opportunities. The company is also taking this opportunity to reconfirm its revenue guidance of $66 to $72 million for the fourth quarter of 2008. Coupled with the workforce reductions that were implemented during the first three quarters,...
Source: Health Business Week (2009-01-02)
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