Smartflex Systems Sets Layoffs After Takeovers

Smartflex Systems Inc. said it will dismiss about 220 employees, including about 15 at its Tustin headquarters, in a move to streamline its operations after several acquisitions.

The bulk of the cuts will come from the company’s operations in Singapore; Monterrey, Mexico; Fremont in Northern California, and West Long Branch, N.J., said company President William Healey. After the restructuring, the company will have about 1,800 employees.

Since October, Smartflex has made three acquisitions totaling $20 million and 260 employees, including $15 million in equipment and inventory from Tanon Manufacturing Inc. The job cuts result in part from Smartflex’s decision to move some support services from its Tustin and Singapore facilities to Mexico and Cebu, Philippines.

The company will take a charge against earnings that includes severance costs and the write-off of some assets. Company officials did not disclose the size of the charge. It will be announced along with quarterly results April 20,

The cuts announced Thursday follow a September disclosure that the company planned to eliminate about 165 jobs, or 15 percent of its work force.