Applied Materials offers voluntary separation plan to 1,000 employees

March 15, 2001–Santa Clara, California–Applied Materials, Inc. announced today that it will implement a voluntary separation plan as part of its continuing efforts to reduce costs in response to further cutbacks in capital equipment investment by semiconductor manufacturers.

This program will be offered to up to 1,000 employees on a selective basis, the majority of whom are in Santa Clara, CA, and Austin, TX. A separation pay and benefits package will be provided to eligible employees who choose to leave the company under the voluntary program.

Since late January, Applied Materials has implemented a significant number of cost reduction programs in response to the sudden and sharp change in the business environment. However, the company feels that continued slowdown in demand for semiconductor equipment requires further action such as the voluntary separation plan.

Despite this current slower worldwide economic growth and continued weakness in the semiconductor market, Applied Materials reports that it remains confident about the long-term business outlook for the industry and the company.


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