Most recent cut backs with any visibility coming in Colorado. The Colorado facility will be closed and the products transferred to the continually unprofitable NY facility. You can't close NY since it shares it's building with corporate. The head cuts are more or less continuous at this point having started with small unannounced reductions in early 2012. While significant cuts must be made public, dead by a thousand cuts can be kept quiet. The usual claim is restructuring, but everyone in the company knows what has been happening. All the company eggs are in the HBLED and OLED basket. Until those sectors improve, the outlook will remain poor. While most companies scramble to diversify, Veeco management are focusing on a few very cyclic or contracting sectors in the hopes of a big short-term win and sudden stock price increase.
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Working at Veeco is horrible. Always waiting for the folks in the back of the room to tap you and take you to HR
13 more at Veeco St. Paul
We did win an award if you count stuffing the ballet box. The company will fold soon. Poor management and getting worse. Good people to work with but moral is so bad nobody cares.