Applied Materials Cuts Work Force

September 23, 2001 by Jeff Shepard

Applied Materials Inc. (San Jose, CA) will cut its global work force by 2,000 positions. The company will cut 700 jobs in Silicon Valley, CA, and another 500 in Austin, TX. The remainder will be eliminated at other locations worldwide by October 28, 2001, the end of the current quarter.

"Unfortunately, the length and severity of the downturn and lack of near-term visibility have made it necessary for us to take additional action to align our operations with the current level of business," said James C. Morgan, CEO of Applied Materials.