By Valerie Coffey
Teradyne Connection Systems (TCS; Nashua, NH) eliminated more than 100 jobs from two Nashua facilities in November on the eve of its acquisition by Amphenol Corp. (Wallingford, CT), according to the Nashua Telegraph & Gazette. The cuts were not previously indicated by Amphenol Corp. in October when it announced the $390 million acquisition of TCS, a division of the Boston-based Teradyne Inc.
Catherine Palmer, marketing communications manager at Teradyne TCS, confirmed the lay-offs. They were a result of “continuing to move volume work to our lower-cost regions and a downturn from some large customers in the wireless segment. It’s unfortunate, but I believe we are now even better positioned for growth as part of Amphenol.”
In 2004, the TCS division made up 23% of Teradyne’s revenue. As of October, the Connection Systems unit had 2,200 employees, not all in Nashua. Amphenol ownership of the Nashua Teradyne facilities became final at the end of November.
Although Amphenol and TCS both make connectors, there is no overlap in their products, Martin Loeffler, Amphenol’s chairman and chief executive officer, said in an October interview. The main use of connectors is to join circuit boards into the finished product; Teradyne’s connectors are more high-end while Amphenol’s are more common, said Loeffler. Amphenol, which has about 16,000 employees, previously owned 5% of TCS via a purchase in June 2001.
