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Applied Materials will cut global workforce by 12 percent
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Applied Materials will begin implementing a restructuring program in the first quarter of fiscal 2009 that is intended to reduce operating costs of approximately $400 million per annum as the semiconductor downturn as well as the economic recession will see revenue decline. As part of this program, the company plans to reduce its global workforce by approximately 12% or 1,800 positions by the end of fiscal 2009.
All divisions, including photovoltaics will be reviewed for workforce reductions, though the company declined to be specific on a divisional basis during the Q&A session of its latest quarterly conference call.
The company said that the workforce reductions would come from a combination of attrition, voluntary separation and other programs.