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Applied Materials May Cut Up To 15% of Workforce

November 11, 2009

Three analysts are expecting Applied Materials (AMAT: 21.09 +0.62%) to make further cuts to its headcount, cuts which could amount to 15% of the company’s 12,600 or so employees. The Santa Clara company manufactures equipment for the production of semiconductors, an industry that is suffering from sharp declines in CapEx spending.

The company also had lay offs in 2008, when it let approximately 1,000 employees go. That number then reached about 2,000 in early 2009.

[via Bloomberg]

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