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Key Technology, Inc. (Nasdaq:KTEC) announced that it has taken actions to restructure operations and reduce costs. These actions include a reduction of approximately 3.5% of its global workforce, primarily in North America and China. The Company estimates that it will take a $1.1 million pre-tax charge against earnings for termination benefits and associated costs related to the workforce reduction in the fourth quarter of fiscal 2011. These workforce reductions will primarily affect staffing levels and costs in both manufacturing operations and operating expense areas.
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