Applied Materials Cutting 900 To 1,300 Positions Worldwide

Posted by SI Staff on October 09, 2012 No Comments
Categories : New & Noteworthy

Applied Materials Inc., a provider of PV manufacturing equipment and other products, says it will restructure its global workforce. As a result, approximately 900 to 1,300 positions – or 6% to 9% – will be eliminated through a voluntary retirement program and other measures. Applied has not provided details on the number of job cuts that will take place in its solar division specifically.

The extent of layoffs or other actions will depend on how many employees participate in the voluntary retirement program and other considerations, the company says. Applied expects to substantially complete the restructuring plan by the end of the third quarter of fiscal 2013, depending on local legal requirements.

Upon completion, the plan is projected to make available approximately $140 million to $190 million annually for other initiatives.

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