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UPDATE 1-Nanometrics cuts 7 percent of jobs

Wed Jan 9, 2008 8:01pm EST

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(Adds number of employees, CEO comment)

SAN FRANCISCO, Jan 9 (Reuters) - Chip inspection equipment maker Nanometrics Inc (NANO.O) said on Wednesday it would cut 7 percent of its work force, citing weakness in the semiconductor capital equipment industry.

Nanometrics will record about $600,000 in restructuring charges on its first quarter as a result of the cuts, the company said in a statement.

As of Dec. 30, 2006, Nanometrics employed 522 people worldwide, according to its 2006 annual report. The company could not be immediately reached.

The company expects to fully realize cost savings from the job cuts in the second quarter, Chief Executive Tim Stultz said in a statement. (Reporting by Anupreeta Das; Editing by Braden Reddall)



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