Tech News

AP - The co-executives of BlackBerry-maker Research in Motion will pay the brunt of about $77 million Canadian (US$62 million) in fines and restitution to settle allegations they participated in a practice known as stock option backdating.No tag for this post.

Poway-based Cohu, a supplier of equipment for the semiconductor industry, announced Thursday that it is reducing headcount, cutting pay, suspending its matching 401(k) contributions, reducing work hours, and forcing mandatory time off, as the firm sees "extremely difficult" business conditions. Cohu, which detailed the cost cutting moves as part of its quarterly results, said its sales dropped to $41.4M for its fourth quarter ended December 27, down from $57.1M in the similar quarter in 2007. Exact number of employees affected by the moves were not disclosed. The firm said that the global financial crisis has results in "sharply reduced demand" for semiconductors, which has affected the firm's customers.No tag for this post.

Camarillo-based Power-One, a manufacturer of power supplies and related components, said Thursday that it will reduce its global headcount by approximately 1,000, or 22 percent of its workforce, as the firm looks to respond to ongoing demand uncertainty. The firm, which announced the cuts as part of its results, said that it is implementing "aggressive" cost reduction actions because of the economic climate. The firm said it will take a $1.3M charge related to the severance. No tag for this post.