Teradyne to Lay Off 350, Cut Exec Pay
Post Views 1Automated microchip test equipment maker Teradyne will eliminate 350 jobs in Q2, and further slash its executives’ annual salaries.
The layoffs affect 9% of Teradyne’s workforce.
The North Reading, Massachusetts-based firm will cut executive salaries a third time since October, an overall pay cut of 20%.
The firm was founded in 1960 by Alex d’Arbeloff and Nick DeWolf, classmates at the Massachusetts Institute of Technology in the late 1940s.
Teradyne to Lay Off 350, Cut Exec Pay by Harrison Barnes