LoginMVM Technologies Incorporated, maker of printing supplies and semiconductor packaging for the printing industry, said it was still considering whether to expand its operations into Washington, D.C. The news, however, wasn't as promising for one Missouri-based semiconductor manufacturer, that announced it was slashing approximately 20 percent of its global workforce.
In Washington, D.C., California-based MVM said it expects to create 200 to 250 new jobs with the planned expansion during the first year, with the potential to add thousands of positions over the next five years, according to the Orange County Register. The company said it is also being wooed by officials in Oregon, Texas and Ohio before making a final commitment to set up shop in the nation's capital.
Meanwhile, semiconductor wafer supplier MEMC Electronics Materials said it was cutting more than 1,300 jobs worldwide as part of a restructuring strategy aimed at saving $200 million per year.
MEMC said it will also reduce production at its Portland, Oregon, factory, close its manufacturing plant in Italy and limit future business at its facility in Malaysia. In addition, the company said it will consolidate its solar materials and SunEdison business into one unit effective the first of the year.