Agilent Technologies Inc today announced a 2700 employee layoff and a major restructuring of its electronic measurement business in response to what the company described as the "most severe global downturn" in its history.

The restructuring will affect approximately 2,700 employees and have a cash cost of about $160 million, Agilent said.

The company also announced today that it is temporarily suspending its share repurchase program until the end of its current fiscal year. Agilent said doing so will help it fully fund the restructuring and conserve cash.

By: sun
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