Thursday, July 23, 2009
Power-One Chops Another 300 Workers
Camarillo-based Power-One, which manufactures power supplies and power conversion products, disclosed Thursday that the firm has reduced its headcount by another 300 employees. The firm said the cuts came during Q2, and were on top of an earlier cut of 900 employees it announced in May associated with the shutdown of a plant in the Dominican Republic. The firm said the cuts bring the company's reduction in headcount to 1300, or 29 percent of its staff. The revelation came as part of the firm's Q2 2009 results, when the firm said it had net sales of $91.2M, a 39% decrease from the $149.3M in sales it had in Q2 of 2008.