Manufacturing Tools Maker Cuts Staff 10%

Newport Corp., which makes equipment used to produce semiconductors and fiber-optic parts, fired 182 workers, or 10% of its staff, as customers cut their spending on new manufacturing tools.

Newport fired 141 full-time and 41 temporary workers in California, Arizona, Colorado and Minnesota to save $5 million to $7 million a year, a spokeswoman for the Irvine-based company said.

Newport shares closed 37 cents at $24.05 on Nasdaq, before the news was announced.