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Politics : Formerly About Applied Materials

AMAT 261.81

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Dec 26 3:59 PM EST

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To: Andreas who wrote (41992)	2/10/2001 9:31:04 AM
From: advocatedevil	of 70976

Credence Systems CEO: "Sustained downturn" & layoffs FREMONT, Calif., Feb. 9 /PRNewswire/ -- Credence Systems Corporation (Nasdaq: CMOS - news), a leading manufacturer of automatic test equipment (ATE) for the worldwide semiconductor industry, today announced a number of actions designed to reduce the Company's cost structure in line with previously announced lower anticipated revenues for the first quarter of 2001. Effective today, the Company's workforce will be reduced by approximately 200 people, representing 14% of the worldwide total headcount. Additionally, the Company indicated that all remaining employees will be required to take one week of time off per quarter until further notice. Other initiatives, including the consolidation and reorganization of certain functions and operations, and the control of discretionary expenses, are also being implemented. ..."We believe the semiconductor industry is in the early stages of a sustained downturn and a recovery may not take place until late 2001 or 2002"... biz.yahoo.com AdvocateDevil

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