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The insatiable consumer appetite for electronics and telecommunications in recent years has Teradyne's sales climbing. The world's top manufacturer of automated test equipment (ATE), Teradyne's products are used to analyze semiconductor chips and circuit boards used in aerospace equipment, automobiles, computers, defense electronics, and telephone systems. Genius pals Teradyne was founded in 1960 by college buddies Nicholas DeWolf and Alexander d'Arbeloff, who headquartered the company in a downtown Boston loft over a Joe & Nemo's hot dog stand. Initially producing testers for integrated circuits, resistors, transistors, and zenor diodes, the firm began using computers to speed up the testing process in the late 1960s, creating the ATE industry. Teradyne started Teradyne Components (later Teradyne Connection Systems) in 1968 to produce electronics connection assemblies, and the firm went public in 1970. In 1972, Teradyne began developing a telephone system testing device called 4Tel. Terahistory The company formed its computer-aided engineering (CAE) group in the 1980s by purchasing and combining Aida Corporation and Case Technologies. Decreased military spending in the early 1990s hurt sales, but a $63 million contract from the German national telephone system in 1993 put Teradyne back on top. In 1994, Teradyne started its Software and Systems Test unit. As demand for PCs grew in 1995, so did sales of the company's semiconductor testing equipment, lifting Teradyne to the $1 billion sales mark for the first time. In late-1999, the company announced that it would spin-off this Software division, however, to allow it to continue to expand. The dependence on Teradyne was slowing its development. Breaking out Teradyne has broadened its product line to include flash memory, logic testing equipment, computerized telecommunications system testing, networking systems testing, and "backplanes," which are super-motherboards capable of operating high-end data processing devices. Its new 6 GHz MicroWAVE6000 instrumentation suite has attracted such customers as Alcatel Microelectronics and Ericsson Microelectronics. Teradyne's core business, however, is dependent on semiconductor production, and that, in turn, is a cyclical business indeed. Exploding sales in the first quarter of 2000 effectively overcame past sales slumps. Such successes have impelled the company to expand. Its Connection Systems Division, based in New Hampshire, announced that it would increase capacity in its six offices. The company has taken additional steps to boost long term profits. In April 2000, it opened the "Cable Farm," which is one of four live telecommunications test labs in the world. The firm also focused on adapting its new tester, Integra, to work on high-end applications. The result of such an adaptation would be a tester that would require a mere one-fourth of the energy required by old technology. Teradyne's committment to R&D is testimony to the company's focus on perpetuating current profits in the long run.
Teradyne looks for "bright and motivated people" for a variety of positions. While Teradyne does do on-campus recruiting, one insider warns "I wouldn't rely on the program. They may not make it [to every] campus." Successful campus candidates are invited back to Teradyne for an in-house interview. Non-campus candidates are invited to send their resume to human resources - there is a dedicated representative in each division at Teradyne. Are Teradyne interviews stressful? That depends. One contact reported five to seven interviews of an hour each - "not the most stressful I've ever had." "The people at Teradyne are not mean-spirited," but "the process is challenging. Interviewers have to determine whether the candidate has the necessary skills, is sincerely interested in contributing to the success of the product, and is both a self-starter and a team player." Interview days include "a tour and lunch."
Not so Dilbert An engineering company at heart, Teradyne's "cubicle atmosphere" invites the inescapable Dilbert comparison. But Teradyne is dissimilar to that comic strip workplace dystopia - the company offers reasonable hours, a lax dress code - "they even recently added domestic partner benefits." The company is said to entertaining suggestions to add gym membership to its list of benefits. The women of Teradyne Teradyne is credited for its impressible flexibility with women. The company allows women to work part-time, and telecommuting, with a Teradyne-provided laptop, is an option as well. The company has one woman VP and another woman on the board of directors. On the other hand, according to one insider, "there seems to be a glass ceiling. It's funny how the white male is always the best "man" for the job." Another contact admits that "almost all the management here are white males" but points out "at lower levels we are much more diverse." Flexihours People work "all sorts of hours" at Teradyne. Most come in around the traditional 9 a.m., though some come in as early as 7 or as late as 11. Nonetheless, hours can often stretch past the traditional eight hour workday to 10 or more. Dress is similarly flexible, "except for Tokyo" and the firm's sales personnel. Worth the wait "A lot of employees at Teradyne have been there a long time," say our contacts and everyone, "including women and minorities," seem to be well-satisfied. "The company treats people as if they expect them to stay for a while," says one insider. While our contacts admit that the cyclical nature of the industry can be "a big drawback," one insider says that "if you ride out the volatile times, the advantages are really great." These benefits. After two years, Teradyne employees have the option to spend six percent of their annual salary on stock priced at 85 percent of two prices: the last day of that year, and January 1 of the previous year. The financial boon is obvious.
Human Resources
Electronic test systems;Backplane connection systems
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