New England – GT Advanced Technologies – Layoffs for 25 percent of its staff

GT Advanced Technologies Inc. (GTAT) stock nose dived Wednesday after the Nashua, N.H.-based supplier of manufacturing equipment for solar and energy products said it would cut 25 percent of its staff. As of June the company had approximately 600 employees in Salem, Mass., New Hampshire, and Asia.

News of the cuts – 40 of which are in the Granite State- and its forecasted revenue of between $110 to $140 million in the third quarter ending Sept. 29, down from second quarter sales of $167.3 million, sent the Nashua, N.H.-based company’s stock down 15 percent to $4.34 at close…

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via GT stock plunges on layoffs, challenging outlook – Mass High Tech Business News.