March 30, 2009
Milpitas-based KLA-Tencor (KLAC: 78.28 +1.23%) announced today that it is laying off 10% of its workforce, or about 600 employees. The company currently owns or leases over a million square feet of facilities in Milpitas, San Jose, and Santa Clara, with a majority of that owned. In addition to the job cuts, the company also intends to consolidate facilities as a further cost cutting measure.
The downturn is hitting companies such as KLA-Tencor particularly hard. While many companies are experiencing flat to slight declines in revenue, KLA-Tencor and other manufacturers of semiconductor manufacturing and test equipment face even more steep declines. As a result, I anticipate that we’ll see further cuts at companies such as Applied Materials, Lam Research, KLA-Tencor, and other equipment makers.
- Applied Materials May Cut Up To 15% of Workforce
- National Semiconductor, Applied Materials Announce Layoffs
- Cisco Begins “Layoffs” At San Jose Campus
- Toyota Announces Decision to Shut Down Fremont NUMMI Plant
- Johnson & Johnson to Cut 8500 Globally