SANTA ROSA -- Agilent Technologies Inc. (NYSE:A) reported today that its Electronic Measurement Group (EMG) saw second quarter revenues drop 13 percent since the same period last year. The loss was attributed to continued weakness in wireless manufacturing.
EMG, headquartered in Santa Rosa, reported revenues of $760 million for the fiscal quarter ending April 30, 2013, compared with $876 million in 2012.
Agilent CEO Bill Sullivan said restructuring is in order: about 450 employees, or 2 percent of Agilent's global workforce will be cut.
According to EMG President Guy Sene the local group will feel some pain.
"It's not like 2009 at all. This is a relatively minor restructuring, although it pains me personally to let anyone go. This company has a tradition of caring very much for its employees," he said.
The Santa Rosa workforce has already been trimmed of its temporary workers and expenses pared wherever possible, he said.
"We were hoping the economy would pick up before the end of 2012, but markets are still down worldwide and show no sign of improving very soon. Sequestration also definitely had an impact," he said.
EMG employs about 1,175 in Santa Rosa.