Orbotech Layoffs
Industry Manufacturing · Location Yavne · Israel · Subscribe (RSS)
Orbotech has 1 publicly reported layoff round on record (most recent March 19, 2024). A total of about 100 employees were affected across these rounds.
Layoff history
KLA Corporation closed the flat panel display division of its Israeli subsidiary Orbotech in March 2024, laying off more than 100 workers at the Yavne facility. KLA described the move as a strategic decision driven by a continuous decline in the FPD market and the cancellation of a major customer project. The division's revenue had fallen 48% year-over-year and accounted for just 3% of KLA's total revenues, generating roughly $283 million in 2023. Combined Orbotech revenues dropped 34% to approximately $500 million over the same period, reflecting the broader slowdown in consumer electronics investment. KLA said it remained committed to Orbotech's other business lines and to what it called "renewed growth" in those segments. No severance details were publicly disclosed.
Reason: Closure of flat panel display division due to market decline and customer project cancellation
Source: calcalistech.com
Data for Orbotech is compiled from public WARN Act filings and reporting linked above. See our methodology.