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Tech Industry

Short Take: SVG cuts more than 200 jobs

Silicon Valley Group (SVG) has cut 209 jobs, or about 6 percent of its workforce. The wafer-processing systems supplier, which warned a month ago that its second-quarter earnings would be about 25 percent below expectations, said the decision affects 77 regular employees and 132 temporary workers. It has imposed a hiring freeze for all positions not related to future business development or customer support, according to Reuters.

    Silicon Valley Group (SVG) has cut 209 jobs, or about 6 percent of its workforce. The wafer-processing systems supplier, which warned a month ago that its second-quarter earnings would be about 25 percent below expectations, said the decision affects 77 regular employees and 132 temporary workers. It has imposed a hiring freeze for all positions not related to future business development or customer support, according to Reuters.