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Applied Materials to Cut 2000 Jobs

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SANTA CLARA, Calif., March 19 -- Applied Materials Inc., supplier of wafer fabrication solutions to the semiconductor industry, has announced it will eliminate approximately 2000 positions, 14 percent of its global work force. Approximately 1400 positions in Applied Materials' North America operations will be affected, and the majority of notifications will occur at the end of the second fiscal quarter. The remaining 600 positions will be eliminated at other locations worldwide by the end of the company's fourth fiscal quarter.

The company said the cuts are part of its plan to align its cost structure with current business conditions.

"The world is changing and the semiconductor industry is changing with it," said James C. Morgan, chairman and CEO of Applied Materials. "Our customers are investing in advanced, complex technologies at the same time that they are under enormous pressure to reduce costs."

The plan involves consolidating facilities in Santa Clara, and in Austin, Texas. The company's facilities in various locations outside the US will also be reduced.

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Mar 2003
materialsNews & Features

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