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April 2, 2009
Insight Enterprises Inc. announced late Thursday it has layed off 270 people, or about 8 percent, of its North American work force.
The move comes as Tempe-based Insight (Nasdaq:NSIT) looks to reduce costs because of the soft technology market.
A supplier of electronics to companies throughout the world, Insight expects to see its year-over-year revenue for the first quarter decline by about $65 million. Company officials said 80 of those jobs were in Arizona, and the cuts already have been made.
“Like nearly all global businesses, we continue to be affected by the challenging worldwide economy,” said Rich Fennessy, Insight’s president and CEO. “We are confident that even with these substantial expense reductions, we will be able to maintain our operational strength in this tough economic environment.”
This is the second job cut announcement in less than six months for Insight as the electronics industry continues to feel the pinch of purchase declines. In November, the company announced it was laying off 240 people.
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