IEC Electronics (IEC) Announces Workforce Reduction at Its Newark, NY Facility
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
IEC Electronics Corp. (NYSE MKT: IEC) today confirmed a workforce reduction of approximately 73 full time employees at its Newark, NY facility.
Jeffrey T. Schlarbaum, President & CEO of IEC Electronics commented, "We continue to proactively manage our expense structure as we move through the turnaround. As an outsourced contract manufacturer, our workforce needs fluctuate commensurate with the demands of customer programs. To that end, we have seen a softening in our near term backlog as we look into early fiscal 2017, and have taken proactive steps to align our cost structure with a workforce reduction at our Newark, New York facility as was recently reported by a local media outlet. We remain confident about the long term prospects of the company and look forward to providing a further update in mid-December when we announce our fourth quarter and fiscal year-end financial results."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- ProAssurance (PRA) Prelim. Q3 EPS Tops Views
- Twitter (TWTR) Announces Rescheduling of Q316 Conf. Call
- Sonic Corp (SONC) Tops Q4 EPS by 1c, Offers FY17 Outlook
Create E-mail Alert Related CategoriesCorporate News, Management Comments
Related EntitiesLayoffs, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!