FormFactor Lays Off 70

Bay Area semiconductor testing-equipment maker FormFactor announced today that it will eliminate 70 jobs. The cuts amount to about 8 percent of its total workforce. The company expects to spend about $5 million to implement the layoffs.

The layoffs mark a continuation of what has been a turbulent few months for FormFactor, which saw the departure of its CEO and CFO in May.

“The decision to eliminate jobs,” said new CEO Carl Everett, “is a very difficult one, but we believe this action is crucial to our goal of simplifying the structure and getting back to basics.”