Business Services Industry
California's Applied Materials Inc. to Lay Off 1,700.(Originated from San Jose Mercury News, Calif.)
Knight Ridder/Tribune Business News, August, 1996 by Thurm, Scott
SANTA CLARA, Calif.--Aug. 14--In the most dramatic sign of troubles in the computer chip business, Applied Materials Inc. Tuesday said it would lay off 1,700 employees and contractors, or about 12 percent of its workforce.
Santa Clara-based Applied Materials is the world's largest maker of machines to manufacture semiconductors. But its business is deteriorating so rapidly that in the next three months, company officials expect to receive orders at about half the pace of earlier this year.
"Our current employment level is beyond what we can sustain" during an expected steep downturn for semiconductor manufacturing equipment, Applied Materials President Dan Maydan said in a prepared statement.
The layoffs will affect 830 of Applied Materials' 12,300...
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