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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: Cary Salsberg who wrote (5211)	1/30/2003 8:24:59 AM
From: advocatedevil	Respond to of 25522

"Applied to axe 165 jobs in Texas, says report" By Semiconductor Business News January 30, 2003 URL: siliconstrategies.com AUSTIN, Texas--In what could be its fifth layoff in last 18 months, Applied Materials Inc. plans to reduce its headcount by 165 employees in Austin, Texas, over the next two months, according to a report from the Austin Business Journal here on Wednesday. On Wednesday, the chip-equipment giant notified the Texas Workforce Commission that the reductions will be permanent, according to the report. The company employs 2,500 employees in Austin, according to the report. The Santa Clara, Calif.-based company also plans to undergo a mandatory shutdown for two weeks in the spring, the first week in February in conjunction with President's Day and the second week in March to coincide with the Austin Independent School District's spring break, according to the report. The Austin Business Journal contacted an Applied spokesman, who declined to comment. The move represents the company's fifth major layoff in the last 18 months. In response to the IC downturn, Applied in November announced its long-awaited and fourth major layoff in the last 16 months, saying it would cut 11% of its workforce, or about 1,750 employees (see Nov. 4, 2002 story ). AdvocateDevil