Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button


DHgate

Home > Press > Applied Materials Announces Cost Reduction Plan

Abstract:
Applied Materials, Inc. (Nasdaq:AMAT) today announced a global cost reduction plan that primarily affects its semiconductor equipment and services businesses and related support organizations. As part of the plan the company will reduce its global workforce by approximately 1,000 positions or about 7%, through a combination of job elimination and attrition.

Applied Materials Announces Cost Reduction Plan

SANTA CLARA, CA | Posted on January 16th, 2008

"To better serve our customers, last summer we reorganized our semiconductor equipment business into a single Silicon Systems Group, and we have achieved synergies across this organization as a result," said Mike Splinter, president and CEO. "We are focused on improving operational efficiencies and the cost structure of our businesses, as well as enhancing our ability to pursue growth opportunities."

Applied expects to record charges of approximately $20 million related to the plan, with the majority of the charges being recorded in the first quarter of fiscal 2008, and to complete the plan by the fourth quarter of fiscal 2008. The plan is expected to result in annualized savings of about $150 million from fiscal 2007 spending levels.

This press release contains forward-looking statements, including those relating to the expected scope, costs, timing and benefits of the plan, and Applied's operational efficiencies and growth opportunities. All forward-looking statements are based on management's estimates, projections and assumptions as of the date hereof and include the assumptions that underlie such statements. These statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements, including but not limited to: the sustainability of demand in the nanomanufacturing technology industry and broadening of demand for emerging applications such as solar, which are subject to many factors, including global economic conditions, business and consumer spending, demand for electronic products and integrated circuits, and geopolitical uncertainties; the timing, rate, amount and sustainability of capital spending for nanomanufacturing technology products; changes in Applied's business requirements; Applied's ability to (i) successfully develop, deliver and support a broad range of products, expand its markets and develop new markets, and (ii) timely align its cost structure with business conditions; and other risks described in Applied's SEC filings, including its most recent Form 10-K. Applied undertakes no obligation to update any forward-looking statements.

####

About Applied Materials, Inc.
Applied Materials, Inc. is the global leader in Nanomanufacturing Technology™ solutions with a broad portfolio of innovative equipment, service and software products for the fabrication of semiconductor chips, flat panels, solar photovoltaic cells, flexible electronics and energy efficient glass. At Applied Materials, we apply Nanomanufacturing Technology to improve the way people live.

For more information, please click here

Contacts:
Applied Materials, Inc.
David Miller
408-563-9582 (business media)
Randy Bane
408-986-7977 (financial community)

Copyright © Business Wire 2008

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

'Lasers rewired': Scientists find a new way to make nanowire lasers: Berkeley Lab, UC Berkeley scientists adapt next-gen solar cell materials for a different purpose February 12th, 2016

Breaking cell barriers with retractable protein nanoneedles: Adapting a bacterial structure, Wyss Institute researchers develop protein actuators that can mechanically puncture cells February 12th, 2016

Replacement of Toxic Antibacterial Agents Possible by Biocompatible Polymeric Nanocomposites February 12th, 2016

Properties of Polymeric Nanofibers Optimized to Treat Damaged Body Tissues February 12th, 2016

Jobs

SUNY Poly Welcomes DPS as the Global Engineering Firm Opens Its U.S. Advanced Technology Group Headquarters at Cutting-Edge ZEN Building November 20th, 2015

SUNY Poly CNSE Announces Milestone as M+W Group Opens U.S. Headquarters at Albany Nanotech Complex and Research Alliance Begins $105M Solar Power Initiative October 20th, 2015

Global Engineering Firm DPS to Establish U.S. Advanced Technology Group Headquarters at SUNY Poly CNSE and Create 56 New Jobs Under STARTUP-NY Initiative October 6th, 2015

SUNY Poly Announces Joint Development Agreement with INFICON to Establish Cutting Edge R&D Partnership Supporting New York State’s Rapidly Expanding Nanoelectronics Industry September 23rd, 2015

Chip Technology

A metal that behaves like water: Researchers describe new behaviors of graphene February 12th, 2016

Silicon chip with integrated laser: Light from a nanowire: Nanolaser for information technology February 12th, 2016

Research reveals carbon films can give microchips energy storage capability: International team from Drexel University and Paul Sabatier University reveals versatility of carbon films February 11th, 2016

New thin film transistor may lead to flexible devices: Researchers engineer an electronics first, opening door to flexible electronics February 10th, 2016

Announcements

Graphene leans on glass to advance electronics: Scientists' use of common glass to optimize graphene's electronic properties could improve technologies from flat screens to solar cells February 12th, 2016

Breaking cell barriers with retractable protein nanoneedles: Adapting a bacterial structure, Wyss Institute researchers develop protein actuators that can mechanically puncture cells February 12th, 2016

Replacement of Toxic Antibacterial Agents Possible by Biocompatible Polymeric Nanocomposites February 12th, 2016

Properties of Polymeric Nanofibers Optimized to Treat Damaged Body Tissues February 12th, 2016

NanoNews-Digest
The latest news from around the world, FREE





  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







Car Brands
Buy website traffic