ATS Automation Tooling Systems (ATS) has revealed that its French subsidiary, Photowatt International, advised its Comité d'Entreprise, or employee works council, of its intention to restructure the company. Photowatt acknowledged that the reorganization may reduce the number of employees at its Bourgoin-Jallieu, France, facility by 95.
Photowatt France alluded to competitive pressures damaging its average selling prices and conceded that schemes to enhance its operations while lowering manufacturing costs have not proved effective enough.
In response to the news that Photowatt will be undergoing a restructuring project, ATS advises that the company is still looking at options to secede from Photowatt, but is also working with advisors to identify other alternatives. At this point, Photowatt’s performance and other factors will ultimately decide when, how, and if any separation between the two companies will occur.