Layoffs, employment, electronics

Teradyne Cuts 532 Workers

Wade Roush 1/30/09

Teradyne (NYSE: TER), the North Reading, MA-based maker of automatic test equipment for the electronics industry, said after the markets closed today that it booked major losses for the fourth quarter and that it will retrench by cutting its workforce worldwide by 14 percent, or 532 positions. It’s not known how many of the cuts, which are expected to save the company $140 million in annual operating expenses, will occur at Teradyne’s Massachusetts facilities. We’ve updated the Boston Tech Layoff Tracker accordingly.

Wade Roush is Xconomy's chief correspondent. You can e-mail him at wroush@xconomy.com, call him at (617) 252-7323, or follow him on Twitter at http://twitter.com/wroush.