Tuesday, January 15, 2008

Applied Materials Cuts 1000

Santa Clara-based Applied Materials said Tuesday that the company plans to cut approximately 1000 positions, or 7% of the firm's workforce. The firm said it expects to record a charge of approximately $20M for the cuts. The firm's President and CEO, Mike Splinter, said the move was part of efforts "focused on improving operational efficiencies and the cost structure" of the company's businesses.