Wednesday, September 2, 2009
TTM Technologies Shuts Los Angeles Facility, Lays Off 347
Santa Ana-based TTM Technologies, a printed circuit board manufacturer, announced late Tuesday that the firm is closing both its Los Angeles and Hayward, California facilities, resulting in the layoff of 347 employees. The firm said the move comes due to "continued weak demand" in North America for commercial printed circuit boards and backplane products. TTM said that it had employed 263 full-time employees in Los Angeles, and 84 full-time employees in Hayward. The cuts represent approximately 11 percent of the firm's workforce. The firm said it will save the firm approximately $14M in annual expenses from the cuts.