News
SALT LAKE CITY – EMS provider CirTran Corp. reported revenue of $12.4 million for 2007, up 42% year-over-year during what its president and CEO Iehab J. Hawatmeh called “an investment year.”
CirTran’s gross profit was $3.2 million, down 3% compared to 2006, as a result of higher than expected cost of sales experienced in entering the online marketplace, along with lower margins on startup marketing services, the company said.
For the year, CirTran reported a net loss of $7.2 million, up from 2006’s loss of $2.9 million, which was attributed to increases in selling, general and administrative expenses.
SACRAMENTO, CA – A measure by the California Department of Toxic Substances Control to establish a new framework for chemicals management is drawing criticism from electronics industry trade groups.
LIVERMORE, CA – Livermore Lab announced plans to layoff up to 535 employees, including scientists and engineers. These involuntary layoffs could start as early as mid-May.
The state-funded lab laid off about 500 temporary and support employees in January, and 215 permanent employees took a buyout in March.
The shedding of employees is a result of increased costs associated with the changeover to private management from the University of California last fall, says the lab.
After the next set of layoffs, the lab will still employ about 6,600.
Manager Lawrence Livermore National Security anticipated about $80 million in increased costs; however, the costs have reached $280 million.
The state-funded lab laid off about 500 temporary and support employees in January, and 215 permanent employees took a buyout in March.
The shedding of employees is a result of increased costs associated with the changeover to private management from the University of California last fall, says the lab.
After the next set of layoffs, the lab will still employ about 6,600.
Manager Lawrence Livermore National Security anticipated about $80 million in increased costs; however, the costs have reached $280 million.
LONDON – Copper jumped more than 3% Wednesday, reversing a prior drop, as word leaked of a possible strike at Codelco, the world’s largest producer.
RICHARDSON, TX – TXP Corp. today reported a fourth quarter net loss of $5.8 million on sales of $2.8 million.
MILWAUKEE – Tyco Electronics will close its plant here and lay off 101 workers, the company said in a state filing.
In a required filing with the Wisconsin Department of Workforce Development, Tyco said it would lay off 58 full-time and 43 temporary employees.
The company is making moves to improve its competitiveness and cost structure.
A handful of affected employees will be offered relocation, the company said.
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