HTI to make cuts, layoffs expected - WQOW TV: Eau Claire, WI NEWS18 News, Weather, and Sports

HTI to make cuts, layoffs expected


Hutchinson, MN (WQOW) - Layoffs are part of a plan by Hutchinson Technologies Inc. to cut its costs by millions of dollars.

In the third quarter, HTI had a net loss of nearly $19-million.  As a result, the company says they will be reducing overall costs by $25 million. 

As part of that plan, HTI will cut a total of 100 jobs company wide.  There's no word on what facilities will be affected by the cuts.  The company says an 11% drop in shipping and a defect in one of its products led to lower than expected earnings.

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