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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets!
LRCX 158.70+1.0%Dec 5 9:30 AM EST
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To: shane forbes who wrote (4748)2/8/1998 8:58:00 PM
From: Investor2  Read Replies (1) of 10921
 
RE: Layoffs in 1996 Cycle Low

"The North American semiconductor equipment industry posted a book-to-bill ratio of 0.77 for July [1996], down from 0.87 for June, according to a report by Semiconductor Equipment and Materials International, a Mountain View-based trade association.

A book-to-bill ratio of 0.77 means $77 in orders were received for each $100 worth of products shipped.

SEMI's report tracked shipments and new orders only for equipment used to manufacture computer chips, not for shipments and orders of semiconductors themselves.

Association analyst Elizabeth Schumann said the decline in orders was expected, considering the recent layoffs at semiconductor equipment companies such as Lam Research Corp. in Fremont and Santa Clara-based Applied Materials Inc."

And

"Lam cuts 550 positions
Lam Research Corp. said Aug. 27 [1996] it would lay off 310 employees and furlough an additional 240 temporary and contract workers.

This is the second time in the past month the Fremont semiconductor-equipment manufacturer has reduced its work force. The company eliminated 215 jobs in August. The combined cuts amount to about 13 percent of Lam's work force.

The layoffs come on the heels of analysts' reports that the current industry slowdown is likely to get worse. With chip prices plummeting, semiconductor companies are canceling orders for chipmaking equipment."

And

"Week of October 7, 1996 [thinking back to summer 1996]... A slowing semiconductor sector led to a stream of layoffs this summer from Motorola, Applied Materials and, most recently, AMD. Dell's infusion of 300 new jobs into the Austin area economy by next April will provide many of those displaced workers with jobs."

Best wishes,

I2

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