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Politics : Formerly About Advanced Micro Devices

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From: bentway11/12/2008 6:33:50 PM
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Applied Materials to cut 1,800 jobs

By Rex Crum

Last update: 4:15 p.m. EST Nov. 12, 2008

SAN FRANCISCO (MarketWatch) -- Applied Materials Inc. (AMAT) said Wednesday it would cut about 1,800 jobs, or 12% of its workforce, by the end of its 2009 fiscal year as part of a plan to reduce expenses by $400 million annually. The semiconductor equipment maker said in a statement it would make the cuts through "attrition, voluntary separation and other workforce reduction programs." Applied Materials also reported a fiscal fourth-quarter profit that fell 45% from a year ago.
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