SANTA ANA, CA -- TTM Technologies, North America's largest printed circuit board manufacturer, will close its Redmond, WA, facility and lay off up to 14% of the company's overall workforce.

The Redmond plant employs 374 full-time employees and 55 temporary employees, the company said. TTM will also lay off 140 employees elsewhere and will take a $4.1 million charge.

PCB production will move from Redmond to other company sites in California, Connecticut, Utah and Wisconsin.

The move is expected to save the company $20 million to $25 million a year.

In a press release, president and CEO Kent Alder said. "While we are committed to continually evaluating our cost structure, we currently have no additional restructuring plans."