Reported about 10 hours ago
Applied Materials announced it will lay off about 4% of its workforce, totaling approximately 1,400 jobs, as part of efforts to streamline operations in response to tighter U.S. export controls on semiconductor technologies. The company expects to incur a charge of $160 million to $180 million for the layoffs, which will mostly affect the fourth quarter of fiscal 2025. This decision comes after the U.S. government intensified restrictions on exporting chipmaking equipment, significantly impacting the company’s operations and future revenue projections.
Source: YAHOO