Credence Cuts Staff

Credence Systems Corp., a maker of equipment used to test semiconductors, said it fired about 200 people, or 14% of its work force, because of lower-than-expected first-quarter revenue. Remaining employees will be required to take one week of accrued vacation each quarter until further notice, a move that reduces accounting expenses, the company said. Shares of Fremont, Calif.-based Credence fell 25 cents to close at $21.25 on Nasdaq.