National Semiconductor, Applied Materials Announce Layoffs
November 13, 2008
National Semiconductor (NSM: 42.33 -1.49%) and Applied Materials (AMAT: 14.60 +0.41%) both announced layoffs today. National is cutting about 5% of its workforce, or 330 employees. Applied Materials is cutting about 12%, or about 1,800 employees.
Semiconductors have been struggling for sometime as a slowdown in consumer spending hits demand for National Semi and Applied’s demand. I think it will be a matter of time before we see other layoff announcements ripple across the semiconductor industry.
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