Industry Downturn causes Layoff of 98 Employees

April 12, 2001

SEH America, Inc. laid off 98 people on Thursday as a result of cost-cutting measures during the ongoing decline in the semiconductor industry. Prior to this reduction, the company employed just over 1,620 employees. The reduction amounts to roughly 6% of SEH America’s workforce.

“Wafer prices didn’t recover as we had hoped, and expected, before we were hit with the current economic slowdown,” said Human Resources Director Julie Branford. “Like other companies in our industry and related industries, this economy has forced us to take a close look at our staffing levels and make adjustments accordingly.”

The lay off affected employees from all shifts and included hourly and salaried individuals from production and administrative areas. Employees who were laid off will receive severance packages and outplacement assistance.

“We believe these will be the only actions necessary in terms of cuts to our workforce,” Branford said, “but we need to continue monitoring the semiconductor market as the high-tech sector is constantly changing.”

SEH-A is also planning a work slowdown, which will coincide with the Memorial Day Holiday weekend. As well, the company is planning to continue with their annual maintenance shutdown this summer. Changing market conditions dictate the need for, and duration of, shutdowns.

SEH America is the U.S. operation of Shin-Etsu Handotai, based in Tokyo. The company is the world’s leading producer of high-purity silicon wafers for the semiconductor industry. Silicon wafers are the basic building blocks for virtually all computer chip manufacture.

For further information contact:
Director, Human Resources
SEH America, Inc.
(360) 883-7000