Late Paychecks At i3 Electronics In Endicott
Some people who work for i3 Electronics in Endicott reportedly didn’t get paid on schedule.
According to WBNG-TV and the Press & Sun-Bulletin, i3 Electronics president Robert Nead blamed the problem on “an administrative delay” with some of the company’s payroll processing on Friday.
In a statement, Nead said the issue “was related to the holiday and was unexpected.”
Nead’s statement said “with the assistance of most of the financial institutions, direct deposits were made late Friday and Saturday. We anticipate the balance of transactions to process on Monday.”
Nead could not be reached for comment Monday afternoon on the status of the payroll.
The company – i3 Electronics Incorporated – was created after Endicott Interconnect Technologies filed for bankruptcy last July. The sale to i3 Electronics was completed October 31.
As of June, EIT reportedly had 575 employees, down from the 2,000-person workforce it had when it was created in November 2002 following the sale of IBM’s Endicott microelectronics unit.
i3 Electronics has not publicly announced how many people it now employs.