Applied Materials Stock Falls Due to Workforce Reduction
Applied Materials Inc (NASDAQ: AMAT), a leading supplier of equipment and services for manufacturing semiconductor chips, announced a plan to reduce its global workforce by approximately 4% due to automation and digitalization.
“Automation, digitalization, and geographic shifts are redefining the company’s workforce needs,”said CEO Gary Dickerson in an email to employees.
The company aims to enhance productivity and competitiveness through this strategic move. Following the news, the stock slipped in the premarket session on Friday.
Author's summary: Applied Materials reduces workforce by 4%.