The restructuring programme follows an announcement that the company’s Q4 revenue will be lower than original estimates provided in October. The figure is expected to be in the region of $660million, despite earlier forecasts of around $775m.
Molex currently has over 33,000 employees across Europe, Asia and the US, although the company has not yet divulged where the job losses will be. Molex stated that the measures are in addition to the previously announced expense controls and restructuring initiatives.
Engineering publications brought to you by Mark Allen
