ASMI to speed up restructuring

Semiconductor equipment maker ASM International is to speed up a restructuring programme with the aim of cutting costs by at least 40% by the first half of 2010, news agency Reuters reports on Monday.

ASMI said the new goal was both larger and six months faster than previously anticipated. The company now expects to cut about 400 jobs out of just over 11,000 full-time positions, a spokesman told Reuters. That includes cuts of about 200 jobs announced in January.

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