The
company
says
it
will
take
a
$4.2m
charge
this
quarter
but
estimates
the
reorganisation
will
cut
annual
expenses
by
$13m.
The
quarter
ended
on
29
September.
GT
Advanced
supplies
manufacturing
equipment
for
the
PV,
LED
and
other
specialty
markets.
Chief
executive
Tom
Gutierrez
says
some
of
the
company’s
Asian
customers
are
experiencing
“severe
financial
difficulties
by
a
number
of
economic
and
trade
related
challenges.”
This
has
impacted
GT
Advanced’s
sales
outlook
as
the
solar
industry
continues
to
grapple
with
weak
demand
and
declining
prices.
“We
are
not
immune
to
these
headwinds…
