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X-Rite restructures

Oct 16, 2001 12:00 AM

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X-Rite, Inc. (Grand Rapids, MI), manufacturer of color-, light- and shape-measurement devices, systems and processes, announced it will take a restructuring charge in Q3 2001 of $800,000 in connection with the elimination of 60 jobs. The company cites the economic downturn in North America as the primary cause for this action, and notes that the workforce reduction will save $3.5 million annually. The job reduction reportedly will affect all parts of X-Rite’s business, and was not the result of a specific product or market downturn. In addition to the graphic arts, X-Rite offers products for the coatings, biomedical diagnostic, telecom and electronics industries.