Jan 31, 2003
Endicott, NY � Endicott Interconnect Technologies is reducing its work week in order to compensate for softer PCB demand, a local paper reported yesterday.
Starting next week, almost all of EIT�s 1,750 employees will take a one-day furlough each week, in effect creating a four-day week. Executives at the IBM spinoff said the action is temporary.
�We have to contain our costs to maintain our price competitiveness,� James J. McNamara Jr., chief executive, told the Binghamton Press & Sun-Bulletin. �We�re doing everything we can to avoid a layoff.�
The reduction will last the month of February, EIT said. And continuation of worker furloughs will be determined at a later date.
As reported earlier by PC FAB, EIT laid off 200 people in November.
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