Power-One Lays Off More Workers

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Power-One Inc., which makes power supplies and power conversion products, disclosed in a regulatory filing that it reduced its head count by another 300 employees during the second quarter.

The cuts at the Camarillo company follow an earlier layoff of 900 employees, announced in May associated with the shutdown of a Dominican Republic manufacturing plant. The company, which once had 4,541 employees, has laid off roughly one third of its employees so far this year.

The company last week reported a net loss of $6.8 million (-8 cents per share), compared with a loss of $3.9 million (-4 cents) a year ago, with net sales down 39 percent to $149 million.

Power-One shares were down 3 cents, or 2 percent, to $1.34 in midday trading on the Nasdaq.

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