Applied Materials to cut 11% of workforce


Applied Materials to cut 11% of workforce

Semiconductor equipment maker Applied Materials will cut 1,750 jobs, most of them from its operations in Silicon Valley.

The company said it made the cuts because of the continuing downturn in the semiconductor industry.

The company will record a restructuring charge related to the downsizing in its first financial quarter of 2003, which ends on 26 January.

Applied Materials is the world's largest supplier of products to the semiconductor industry, providing systems for processing silicon wafers such as chemical vapour deposition and plasma etching systems. The company recorded revenue of $7.34bn (£4.7bn) for 2001.

Around half the company's orders come from Asia, with Taiwan, South-east Asia and China among its largest customers. Its three technology centres are located in Japan, South Korea and Taiwan.

Email Alerts

Register now to receive IT-related news, guides and more, delivered to your inbox.
By submitting you agree to receive email from TechTarget and its partners. If you reside outside of the United States, you consent to having your personal data transferred to and processed in the United States. Privacy

COMMENTS powered by Disqus  //  Commenting policy