Tech Industry

Short Take: Hadco to lay off 125, take Q2 charge

Hadco, a supplier of electronic interconnect products and services, said it will lay off 125 employees and take a charge of approximately $63 million for both one-time in-process R&D costs in connection with the acquisition of Continental Circuits and restructuring charges for consolidating two East Coast facilities. The company also warned that net income for the second quarter of fiscal 1998 will be lower than the previous quarter.

Hadco, a supplier of electronic interconnect products and services, said it will lay off 125 employees and take a charge of approximately $63 million for both one-time in-process R&D costs in connection with the acquisition of Continental Circuits and restructuring charges for consolidating two East Coast facilities. The company also warned that net income for the second quarter of fiscal 1998 will be lower than the previous quarter.