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IEC Electronics (IEC) Announces Workforce Reduction at Its Newark, NY Facility

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IEC Confirms Workforce Reduction at Its Newark, NY Facility

October 11, 2016 4:10 PM EDT

NEWARK, NY -- (Marketwired) -- 10/11/16 -- 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... More