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Politics : Formerly About Applied Materials
AMAT 268.72+1.3%Dec 3 3:59 PM EST
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To: willcousa who wrote (43802)3/15/2001 11:00:01 AM
From: Proud_Infidel  Read Replies (1) of 70976
 
Applied Materials Announces Voluntary Separation Plan
SANTA CLARA, Calif.--(BUSINESS WIRE)--March 15, 2001--Applied Materials, Inc. announced today that it will implement a Voluntary Separation Plan as part of its continuing efforts to reduce costs in response to further cutbacks in capital equipment investment by semiconductor manufacturers. This program will be offered to up to 1,000 employees on a selective basis, the majority of whom are in Santa Clara, California and Austin, Texas. A separation pay and benefits package will be provided to eligible employees who choose to leave the Company under this voluntary program.

Since late January, Applied Materials has implemented a significant number of cost reduction programs in response to the sudden and sharp change in the business environment. However, the continued slowdown in demand for semiconductor equipment requires further action by the Company. Despite this current slower worldwide economic growth and continued weakness in the semiconductor market, Applied Materials remains confident about the long-term business outlook for the industry and the Company.

Applied Materials (Nasdaq:AMAT - news) is a leader of the Information Age and the world's largest supplier of products and services to the global semiconductor industry. Applied Materials' Web site is at appliedmaterials.com.
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