NOVEMBER 10, 2008--Camtek Ltd. (Migdal Ha'emek, Israel; www.camtek.co.il) announced today that it has implemented a cost reduction plan, one element of which involves reducing its global work force by about 55 employees. This reduction represents about 12 percent of the company's total workforce.
"As a responsible organization, we must act conservatively, monitor our business expenses and profitability, and be prepared for a business slowdown in light of the global economic turmoil", said Rafi Amit, Camtek's CEO. "We have preserved our R&D capabilities in order to position ourselves for the future recovery of our markets."
On Nov. 18, 2008, Camtek will report its financial results
for the third quarter and nine months ended Sept. 30, 2008.
With headquarters in Migdal Ha'emek Israel, Camtek Ltd., designs, develops, manufactures, and markets automatic optical inspection systems and related products. Camtek's automatic inspection systems are used to enhance both production processes and yield for manufacturers in the PCB industry, the high-density interconnect substrate industry, and the semiconductor manufacturing and packaging industry.
