Chips

Applied takes axe to staff

Attrition in semiconductor business

By INQUIRER staff

Tue Jan 15 2008, 15:34

THE FIRM that makes the kit that chip firms use to make their semiconductors is cutting 1,000 jobs, it said today.

Applied Materials CEO, Mike Splinter, said the cuts were part of an efficiency drive and a move to reduce costs.

The firm estimates it will save $150 million through the cuts, but will take a charge of around $20 million.

The move follows an earlier profit warning which Applied attributed to the decline in the DRAM market. µ

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Applied takes axe to staff

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