OTHER NEWS - Aug. 2, 1993
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Optical Coating to Trim Work Force 7%: The Santa Rosa-based maker of thin film-coated optical products said it expects to report a loss in the third quarter as a result of layoffs. Optical Coating Laboratory, which serves the electronics and medical industries, is forced to cut staffing “as a result of the effects on our business of the protracted weak economy worldwide,” said Herbert M. Dwight Jr., chairman, president and chief executive. The payroll cuts involve about 80 employees worldwide. About two-thirds of the reduction of personnel is occurring in Europe, where economic conditions have been more severe than in the United States.
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