Nanotechnology Now





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

Physicists solve quantum tunneling mystery: ANU media release: An international team of scientists studying ultrafast physics have solved a mystery of quantum mechanics, and found that quantum tunneling is an instantaneous process May 27th, 2015

Nanotechnology identifies brain tumor types through MRI 'virtual biopsy' in animal studies: If results are confirmed in humans, tumor cells could someday be diagnosed by MRI imaging and treated with tumor-specific IV injections; new NIH grant will fund future study May 27th, 2015

Who needs water to assemble DNA? Non-aqueous solvent supports DNA nanotechnology May 27th, 2015

Controlled Release of Anticorrosive Materials in Spot by Nanocarriers May 27th, 2015

Jobs

New ASTM Standards Will Help Educate Present and Future Nanotechnology Workforces April 26th, 2015

SUNY Poly & M+W Make Major Announcement: Major Expansion To Include M+W Owned Gehrlicher Solar America Corporation That Will Create up to 400 Jobs to Develop Solar Power Plants at SUNY Poly Sites Across New York State March 26th, 2015

Is US immigration policy 'STEMming' innovation? Study sheds light on why foreign STEM students stay in US or return home March 11th, 2015

Nanotech Discoveries Move from Lab to Marketplace with Lintec Deal: Licensing Partnership Brings Together University Technology, New Richardson-Based Facility Directed by Alumni February 9th, 2015

Chip Technology

Physicists solve quantum tunneling mystery: ANU media release: An international team of scientists studying ultrafast physics have solved a mystery of quantum mechanics, and found that quantum tunneling is an instantaneous process May 27th, 2015

Who needs water to assemble DNA? Non-aqueous solvent supports DNA nanotechnology May 27th, 2015

One step closer to a single-molecule device: Columbia Engineering researchers first to create a single-molecule diode -- the ultimate in miniaturization for electronic devices -- with potential for real-world applications May 25th, 2015

Basel physicists develop efficient method of signal transmission from nanocomponents May 23rd, 2015

Announcements

Physicists solve quantum tunneling mystery: ANU media release: An international team of scientists studying ultrafast physics have solved a mystery of quantum mechanics, and found that quantum tunneling is an instantaneous process May 27th, 2015

Nanotechnology identifies brain tumor types through MRI 'virtual biopsy' in animal studies: If results are confirmed in humans, tumor cells could someday be diagnosed by MRI imaging and treated with tumor-specific IV injections; new NIH grant will fund future study May 27th, 2015

Who needs water to assemble DNA? Non-aqueous solvent supports DNA nanotechnology May 27th, 2015

Controlled Release of Anticorrosive Materials in Spot by Nanocarriers May 27th, 2015

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