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Auto slump hits Cognex sales
Even before the coronavirus pandemic emerged, the automotive sector - a key one for Cognex - had fallen into an extended slump. With future business now looking more uncertain, the company has decided to implement some major cost-cutting measures, reducing its workforce by 190. However, historically very high profitability means that Cognex has an enviable cash buffer to fall back on if necessary. Photo: Cognex.
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