APPLIED MATERIALS LAYOFFS: 2000 employees to be fired, job cuts increased

Applied Materials Layoffs News

Applied Materials had originally announced to cut 1800 jobs. This number has been increased to 20%, which means that the total number of job cuts or layoffs will equal to roughly 14% of the total workforce of Applied Materials. The following comments are from George Davis, senior VP and CFO of Applied Materials.

Continuing deterioration in our end markets is expected to lead to additional restructuring activities which are now under evaluation," he said. "By the end of fiscal 2009, we expect to reduce our quarterly revenue breakeven level to below $1.2 billion and our free cash flow breakeven revenue level to approximately $1 billion. Both of these measures are sensitive to product mix."

You can read more about Applied Materials Layoffs 2008 or 2009 on EDN