OLED manufacturing firm makes big job cuts

OLED manufacturing firm makes big job cuts

Business news |
By Peter Clarke

A filing states that Kateeva was scheduled to let go 144 people with effect on the January 31, 2020.

The lay-offs include the president, the chief marketing officer and the chief operating officer of the company as well as the director for advanced research and development, according to a Crunchbase News report.

According to the Kateeva’s Linkedin entry the company has more than 200 employees with 293 of them with Linkedin profiles

Some of the sacked executives will stay on for up to 60 days to effect a transition period while others will have gone immediately but with 60 days recompense. Companies in California are required to give a 60-day notice before mass layoffs.

Kateeva is headquartered in Newark, California with operations in Korea, Taiwan, Japan and China. The company was founded in 2008 and raised more than $126 million in equity finance during the course of its existence and raised $88 million in a Series E round of funding in May 2016.

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