Skip to comments.
Applied Materials reportedly to cut more jobs
Semiconductor Business News ^
Posted on 07/11/2003 7:22:19 PM PDT by nwrep
Applied Materials reportedly to cut more jobs
By Semiconductor Business News
July 11, 2003 (12:48 p.m. EST)
URL: http://www.eetimes.com/story/OEG20030711S0020
SANTA CLARA, Calif. Heading into the Semicon West trade show next week, Applied Materials Inc. is planning to cut 2,000 more jobs, including management, according to a Reuters report on Friday (July 11).
The cuts are part of an ongoing effort by Applied to reduce costs. It also represents the first big move made by Michael Splinter, the new chief executive of the chip-equipment giant. In April, Applied named Splinter, a former Intel Corp. executive, president, chief executive officer and a member of the board.
Applied had set plans to cut 3,750 jobs, more than 20 percent of its staff, in its current fiscal year ending in October, according to the report. The expected job cuts are part of that figure, the report said.
"We're probably expecting around 800 to 1,100 [employee] reductions, with a focus on senior management," Banc of America Securities analyst Mark FitzGerald said in the report . "There's no doubt in my mind."
Jay Deahna, the J.P. Morgan analyst, said that 1,400 jobs could be cut in the latest round this month, the report said.
![](http://img.cmpnet.com/ads/graphics/as5/ke/deslib_468.gif)
Copyright © 2003 CMP Media, LLC | Privacy Statement
TOPICS: Business/Economy; Front Page News; News/Current Events; US: California
KEYWORDS: electionpresident; employmentlist; hightech; jobs
Navigation: use the links below to view more comments.
first 1-20, 21-23 next last
1
posted on
07/11/2003 7:22:19 PM PDT
by
nwrep
To: *Employment_List; *Election President; Willie Green
Ping
2
posted on
07/11/2003 7:23:54 PM PDT
by
nwrep
To: nwrep
Do you work at Applied Materials?
3
posted on
07/11/2003 7:25:06 PM PDT
by
7DayRepo
To: All
Remember that a donation doesn't have to be large to be significant. There are tens of thousands of FReepers. If everyone would donate just $1.00 a month, we would never have to have another of these FReepathons.
Are you doing your share?
Donate Here By Secure Server
4
posted on
07/11/2003 7:27:13 PM PDT
by
Support Free Republic
(Your support keeps Free Republic going strong!)
To: 7DayRepo
No I don't.
5
posted on
07/11/2003 7:27:21 PM PDT
by
nwrep
To: 7DayRepo
No I don't.
6
posted on
07/11/2003 7:27:38 PM PDT
by
nwrep
To: nwrep
Did you happen to see this one two weeks ago?
Cadence layoffs coming, analysts say
http://www.eedesign.com/story/OEG20030627S0022 Now that Oregon's unemployment rate is up to 8.5%, I wonder if there is any truth to statements I've heard saying that the rate is over 20% for those in the technical fields.
7
posted on
07/11/2003 7:32:59 PM PDT
by
LayoutGuru2
(Call me paranoid but finding '/*' inside this comment makes me suspicious)
To: nwrep
Must be a tough place to work right now, waiting for the axe to fall.
8
posted on
07/11/2003 7:34:57 PM PDT
by
7DayRepo
To: nwrep
Jay Deahna, the J.P. Morgan analyst, said that 1,400 jobs could be cut in the latest round this month, the report said.Ahhh, that probably explains why they were recently upgraded by one of those pump and dump brokerages. If you can't sell more product, you can always cut jobs to improve the bottom line. Intel must be getting ready to cut too. Their sales will be flatlining soon and along with Dell, have stated that there are no signs of an econonic recovery in IT spending. INTC just got an upgrade today. Humm.
Richard W.
9
posted on
07/11/2003 7:37:56 PM PDT
by
arete
(Greenspan is a ruling class elitist and closet socialist who is destroying the economy)
To: LayoutGuru2
Now that Oregon's unemployment rate is up to 8.5%, I wonder if there is any truth to statements I've heard saying that the rate is over 20% for those in the technical fields.
I saw that, LayoutGuru. Does not surprise me about Cadence.
That 20% number seems on the high side. There aren't that many unemployed tech people in OR. It is too expensive to live, they just leave the state.
10
posted on
07/11/2003 7:43:01 PM PDT
by
nwrep
To: nwrep
Check out the company that sells the
H-1B Starter Kit.You'll see a company name you recognize in their list of sponsors.
They could be laying off with one hand and hiring H-1B's with the other.
11
posted on
07/11/2003 8:07:30 PM PDT
by
pttttt
To: nwrep
I know a guy that works for Applied Materials and I see him about every Sunday at church.
So far he still has his job. I asked him how the layoff blade keeps missing him. He replied that he painted a symbol above his door with Sheep's Blood! LOL
To: nwrep
S#!|, just plain S#!|
13
posted on
07/11/2003 8:13:15 PM PDT
by
Drango
(Just 5ยข a day will end pledge drives on FreeRepublic.)
To: LayoutGuru2
"Observers said that despite pouring hundreds of millions into R&D, Cadence's R&D team hasn't developed from scratch a market leading IC design product in over half a decade. "
Maybe they need to downsize a little in order to focus on what they are best at or in order to figure out what is profitable. It's hard to justify paying R&D people who aren't producing the results they want. This is coming from a guy who may be in R&D someday.
14
posted on
07/11/2003 8:32:47 PM PDT
by
sonofron
To: nwrep
What does Applied Materials do, and what do the people being laid off do?
15
posted on
07/11/2003 8:36:28 PM PDT
by
templar
To: templar
Applies Materials builds the machines used in semiconductor and silicon wafter manufacturing.
Do you remember that commercial that showed various scenes, like in a hospital, a car, etc, with little star-like flashes of light here and there across the screen indicating where the chips are? That was an AMat commercial.
I work in an office just up the road from their HQ in Santa Clara - they're just south of Highway 101 at Bowers Ave.
16
posted on
07/11/2003 9:50:06 PM PDT
by
mvpel
(Michael Pelletier)
To: sonofron
Maybe they need to downsize a little in order to focus on what they are best at or in order to figure out what is profitable. It's hard to justify paying R&D people who aren't producing the results they want. This is coming from a guy who may be in R&D someday. I used to work in Cadence R&D. The problem isn't the engineers, the problem is the management. Cadence is a mergers and aquisitions company that just happens to focus on the EDA market. It is also run by some of the biggest, least caring about the EE profession jerks in the industry.
I've been out of work for almost a year now, and I have 10 years of experience doing both IC design and creating EDA tools. It's tough and ugly out there, I tell you....
To: mvpel
I know people that work at Applied Materials (AMAT for short). Before this new guy came in, they had 11 (
11!?!) layers of management.
Can you imagine that? If you were a front-line grunt worker with a critical idea or warning that could affect the whole company, you'd have to get the equivalent of a football team to agree, one in a row, that your idea is important and requires attention from the very top.
To: Yossarian
My sympathies to those who will be losing their jobs.
19
posted on
07/11/2003 10:05:34 PM PDT
by
Ciexyz
To: templar
What does Applied Materials do, and what do the people being laid off do?Applied is (or perhaps was) the world's largest semiconductor manufacturing equipment maker. Formerly a $7.3 billion company 2 yrs. ago now about a $4.5 billion company. The people that were let go (headcount down about 45% from peak) were all kinds of engineering/manufacturing/IT/office staff. The Austin, TX facility was also hit hard as well as Santa Clara, CA.
I had worked there in the mid 90's as an R+D engineer and left after I finally got sick of the 80 hour weeks and pressure cooker environment that Applied was (is) famous for.
Navigation: use the links below to view more comments.
first 1-20, 21-23 next last
Disclaimer:
Opinions posted on Free Republic are those of the individual
posters and do not necessarily represent the opinion of Free Republic or its
management. All materials posted herein are protected by copyright law and the
exemption for fair use of copyrighted works.
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson