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IEC to Cut 73 Jobs in Newark Facility
October 17, 2016 | IEC Electronics Corp.Estimated reading time: Less than a minute
IEC Electronics Corp. has confirmed a workforce reduction of approximately 73 full time employees at its Newark, New York facility.
"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," said Jeffrey T. Schlarbaum, president and CEO of IEC Electronics. "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."
He said he remains confident about the long term prospects of the company and look forward to providing a further update in mid-December when they announce their fourth quarter and fiscal year-end financial results.
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