Irvine Sensors to Shut Office in Vermont, Lay Off Workers
Irvine Sensors Corp. said Thursday it will close its Vermont office and manufacturing facility later this year and will lay off most of the 50 workers there.
The electronics company, which has been losing money for the past 10 years, said it is shuttering the plant to cut operating costs. It acquired the memory products line from International Business Machines Corp. in 1993 and has been leasing the Vermont facility from IBM since then.
A company spokeswoman said the plant makes memory chip products used in Irvine Sensors’ data storage and image sensing devices. Manufacturing will be shifted to the company’s Costa Mesa headquarters when the lease ends in September.
A few of the Vermont workers will be offered transfers to Costa Mesa as well, the company said. Irvine Sensors has about 75 employees in Orange County.
The company would not say how much it will save on operating and facilities costs because of the lease termination. Irvine Sensors stock closed Thursday at $1.05 a share, up 5 cents, in Nasdaq trading.
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