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Business Closings and Layoffs

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Closings

KB Toys files for bankruptcy; closing all stores
Posted: 12/11/2008. KB Toys Inc. filed for bankruptcy on Thursday and intends to close its 431 stores, including five in the Bay Area, primarily because the toy retailer has been drubbed by a drastic decline in sales.

Office Depot to close stores, cut jobs
Posted: 12/11/2008. The plan to shutter 112 stores will reduce the chain's base to 1,163. It plans to close 45 stores in the Central U.S., 40 in the Northeast and Canada, 19 in the West, includinging one in Milpitas, and eight in the South.

West Coast retailer Mervyns will shutter all 149 stores
Posted: 10/22/2008. The abrupt decision by Mervyns to shut its doors and close all 149 stores, including the Milpitas location, once the holiday shopping season is over, came after frantic efforts by the retailer to extricate itself from an economic mire.

Layoffs

California companies planning layoffs
Search on Milpitas or a specific company to see who has announced planned layoffs.

Advanced Medical Optics
Advanced Medical Optics is laying off 61 employees at 510 Cottonwood Drive in Milpitas on Jan. 17.

250 Bay Area Cisco Systems Employees Get Laid-Off
February 5, 2009. Cisco Systems released 250 of its employees from its Milpitas office Wednesday in an effort to "realign and restructure" in order to avoid a larger-scale layoff, according to company executives.

Credence Systems
LTX-Credence said in the filing that it completed notifying affected employees on September 9, with the exception of employees in certain international locations. As to the facility closures, LTX-Credence said it is not yet able to estimate total charges.

SanDisk still sees 10 pct workforce cut
SAN FRANCISCO, Dec 10 (Reuters) - Flash memory card maker SanDisk Corp (SNDK.O: Quote, Profile, Research, Stock Buzz) said on Wednesday it still plans to cut its workforce by 10 percent worldwide and maintained its lowered 2009 capital expenditure forecast as consumers reduce discretionary spending amid the global economic crisis.

Intersil Corp.
Milpitas, CA, is reducing its global workforce 9%. including the previously announced consolidation of the company's Palm Bay, FL, fabrication facilities at 1650 Robert J. Conlan Blvd. NE, which will conclude during the first half of 2009, Intersil expects to reduce its global workforce by approximately 140 employees and reduce its overall annual operating costs by approximately $12 million to $14 million.

KLA Tencor Cuts Another 10% of Its Workforce (KLAC)
3/31/09. Shares of KLA Tencor (KLAC) are up slightly in early trading after the company announced it will reduce its global workforce by approximately 10 percent, following a 10% cut of employees back in November.

TiVo, KLA-Tencor
Digital video recording pioneer TiVo Inc and microchip-equipment maker KLA-Tencor Corp on Tuesday became the latest in a growing list Silicon Valley companies to shed jobs.


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