Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 322.51

+6.1%

Feb 6 9:30 AM EST

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To: Skeeter Bug who wrote (23315)	8/26/1998 2:05:00 AM
From: Jeffrey D	Read Replies (2) of 70976

History is a good teacher. Too bad most of us have such short memories. The following is taken from the San Jose Business Journal from August 19, 1996. Hmm, just two short years ago. AMAT's response to adverse business conditions then is remarkably similar to what they did today. Right down to the reduction of executive salaries by 10%. Justa has pointed out in a prior post what AMAT's stock did after that. Is this one different than 1996 as some say? Is this the mother of all downturns? Will it be until 2003 before one more new fab is built? I say look at the history and it will give you an idea of where we are headed. All the bad numbers will be included in this 4th quarter and AMAT will take off once again. Jeff amcity.com Applied Materials axes 1,700 jobs Applied Materials Inc., the world's largest maker of machines that manufacture semiconductors, said it would lay off 1,700 employees and contractors. Company officials said rapidly declining orders are responsible for the 12 percent reduction in work force. The layoffs will affect 830 of Santa Clara-based Applied Materials' 12,300 full-time employees. An additional 870 temporary and contract workers will lose their jobs. Also, the salaries of top executives and directors will be cut by 10 percent.

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