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Citing the continuing economic downturn as the cause, Avnet Inc. slashed about 200 jobs this week and announced that it will defer employee salary increases until January 2002.
This is the company's third round of layoffs in the past six months. The moves come amid several large acquisitions by the Phoenix-based distributor of electronic components and months after it implemented a hiring freeze and cut working capital by $300 million.
About 150 of the downsized positions including 20 local jobs - came from the company's Electronics Marketing group, accounting for 3 percent of that division's North American work force. The rest - including about 15 local jobs came from the Computer Marketing Group.
Roy Vallee,...