Difficult quarter cited Solectron announced on Thursday that it will cut 12,000 jobs as part of a restructuring effort following a difficult fiscal second quarter.The Milpitas, California, electronics manufacturing services company plans to trim its workforce by 16 percent and cut back on its manufacturing space by nearly 3 million square feet over the next several quarters, said Mike Cannon, president and chief executive officer at Solectron, during a Thursday conference call with analysts. The company makes products for large customers such as IBM and Hewlett-Packard but faces tough price competition.Cannon made the announcement after Solectron released its financial results for the quarter ended Feb. 28, showing sales of $2.8 billion. This figure compared to $3 billion in the same quarter a year earlier. The company reported a net loss of $111 million or a loss of $0.13 per share in its most recent quarter. Solectron expects to post revenue of between $2.6 billion and $2.9 billion, and a loss of $0.04 to $0.01 per share, for its third quarter, Kiran Patel, executive vice president and chief financial officer at Solectron, said during the conference call.“I am not pleased to deliver this guidance, but it is where we are today,” Patel said.Solectron already has taken other cost-cutting measures but now plans to cut into its workforce, which currently numbers about 74,000. The company expects total restructuring costs of $300 million over the next several quarters as it consolidates its facilities and workforce in Europe and North America. Technology Industry