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Opticom says TFE has begun massive cuts

Norwegian research and development company Opticom said Friday that subsidiary Thin Film Electronics had begun phasing out its Swedish operation in Linköping and cutting drastically at its US branch.

Norwegian research and development company Opticom said Friday that subsidiary Thin Film Electronics had begun phasing out its Swedish operation in Linköping and cutting drastically at its US branch.

Opticom owns 87 percent of research company TFE, with chip giant Intel having the remaining 13 percent share.
Opticom's financial director Erling Svela confirmed the move to Reuters.

TFE's Swedish operation has 44 employees and the US division has cut seven of their 11 job positions.

"Thin Film will endure, it will keep its patent and non-material rights and it will also have the possibility of signing deals with new partners. Eventual royalties from the agreement with Intel will also go to Thin Film," Svela said.