SiliconBeat

Mattson Technology of Fremont is the latest chip-equipment maker to announce layoffs as it begins a “reorganization of its structure to reflect changes in anticipated levels of business,” according to a filing it made today after the markets closed. (Earlier Tuesday Novellus Systems said it had decided to cut 10 percent of its staff as it lowered profits forecast for the second time in three weeks.)

Mattson said it will “reduce approximately 20% percent of (its) global workforce through reductions-in-force and outsourcing.” The move is estimated to cost $3 to $4 million in severance charges.

Mattson will start the reorganization this quarter and expects to complete all significant related activities by the first quarter of 2009. The company said it expects to record severance pay expenses in the range of $3.0 million to $4.0 million. Substantially all of these charges will result in cash expenditures.

“The recent tightening of the credit market has resulted in an unprecedented reduction in semiconductor capital equipment order flow,” according to chief executive David Dutton in a statement.

The newest job cuts come on top of 80 that were eliminated in September, which equaled 14 percent of its staff at that time.