https://layoffcheck.com/companies/orbotech Layoff and WARN notices reported for Orbotech. en-us https://layoffcheck.com/companies/orbotech#2024-03 https://layoffcheck.com/companies/orbotech#2024-03-904 Tue, 19 Mar 2024 12:00:00 GMT KLA Corporation closed the flat panel display division of its Israeli subsidiary Orbotech in March 2024, laying off more than 100 workers at the Yavne facility. KLA described the move as a strategic decision driven by a continuous decline in the FPD market and the cancellation of a major customer project. The division's revenue had fallen 48% year-over-year and accounted for just 3% of KLA's total revenues, generating roughly $283 million in 2023. Combined Orbotech revenues dropped 34% to approximately $500 million over the same period, reflecting the broader slowdown in consumer electronics investment. KLA said it remained committed to Orbotech's other business lines and to what it called "renewed growth" in those segments. No severance details were publicly disclosed.