Applied Materials lays off, consolidates

March 27, 2003 — Applied Materials Inc. announced it will lay off 14 percent of its work force this year as part of an overall cost-cutting plan.

The Santa Clara, Calif.-based maker of equipment for wafer fabrication as well as metrology and inspection said it will cut about 1,400 positions in North America by the end of the second quarter. It will eliminate an additional 600 jobs at other locations by year’s end.

The company expects the restructuring plan to cost up to $425 million during the next four quarters, according to a news release. More than half will be spent consolidating facilities, primarily in California and Texas.

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