ASML expected to talk about jobs cuts soon, says report

ASML expected to talk about jobs cuts soon, says report
AMSTERDAM, The Netherlands -- Lithography equipment maker ASML Holding NV is expected to unveil details of a large restructuring program this week, according to a Dow Jones Business News report.

The report credits an anonymous source with saying a statement on restructuring could come "any day now".

As part of such a restructuring ASML is expected to make substantial job cuts at its Track and Thermal operations in San Jose, California, which came into ASML's possession as part of the acquisition of Silicon Valley Group in 2001.

ASML has been suffering, along with the rest of the semiconductor equipment industry, under much reduced capital expenditures by semiconductor companies. It has also been engaged in a protracted and widespread series of legal disputes with its main rival, Nikon (see December 9 story).