CoorsTek lays off about 300 workers and posts a net loss

Citation

(2002), "CoorsTek lays off about 300 workers and posts a net loss", Microelectronics International, Vol. 19 No. 1. https://doi.org/10.1108/mi.2002.21819aab.009

CoorsTek lays off about 300 workers and posts a net loss

(The Denver Post) Golden-based CoorsTek has laid off about 300 employees over the past three months, bringing its total job cuts for the year to 1,260 workers, or 30 percent of its workforce. The latest layoffs affected about 125 Colorado employees. The company, which makes components for semiconductor-making systems and other high-tech equipment, has cut 460 jobs in Colorado this year.

CoorsTek attributed the workforce reductions, which are ongoing, to the persistent and severe downturn in the semiconductor and telecommunications industry.

The company, a spinoff of Coors Brewing Co., employs 3,000 worldwide and roughly 1,275 in Colorado, after the layoffs.