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Applied Materials to Reduce Work Force
Nov 2002
SANTA CLARA, Calif., Nov. 5 -- Applied Materials Inc., supplier of products and services to the semiconductor industry, has announced it will reduce its global work force by approximately 1,750 positions, or 11 percent, due to the continuing downturn in the semiconductor industry. The company will record a restructuring charge in the first fiscal quarter, ending Jan. 26. Employees will be notified starting Nov. 5.

About 800 positions at Applied Materials' Silicon Valley operations and 200 positions at the company's Austin, Texas, operations will be affected. The remaining positions are expected to be eliminated at other locations in the US and worldwide by the end of the first quarter.

"This was a painful but necessary decision to make in order to enable the company to align our operations with the current level of business and position for future growth," said James C. Morgan, chairman and CEO of Applied Materials.

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