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Applied Materials streamlines business operations

Posted: 19 Mar 2003 ?? ?Print Version ?Bookmark and Share

Keywords:applied materials? wafer fabrication solution?

Applied Materials Inc., a supplier of wafer fabrication solutions, has announced a major plan to align the company's cost structure with current business conditions.

The realignment plan has two major elements: restructuring actions and focused program management. Restructuring actions include the consolidation of facilities and a reduction in work force, while the focused program management hopes to provide additional cost savings for the company. Facilities infrastructure is being reduced primarily through building consolidation at its California and Texas, U.S. facilities. The company's facilities outside of the U.S. also will be reduced in various locations.

Further, the realignment plan includes the elimination of about 2,000 positions or 14 percent of the company's global work force. An estimated 1,400 positions in Applied Materials' North America operations will be affected and the majority of notifications will occur at the end of the second fiscal quarter. The remaining 600 positions will be eliminated at other locations worldwide by the end of the company's fourth fiscal quarter of FY03.

The planned moves are designed to enhance Applied Materials' market position and add more value to customers' capability while reducing costs to enhance short-term and intermediate-term profit performance.

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