Wednesday, October 20, 2004
Agilent Technologies Inc. has cut 100 jobs, or 11 percent of its work force, from its semiconductor test products plant in Fort Collins, Colo., citing lackluster demand for semiconductor products and a push to trim costs, the company confirmed Tuesday.
A spokeswoman for the Palo Alto, Calif.-based company confirmed an Associated Press report stating Agilent had planned the job cuts for late 2005 but moved up the timetable as semiconductor demand slowed during the past quarter, the report said.
According to the report, Agilent's Fort Collins facility would continue to be used for new and emerging technologies. However, the facility will now employ only 800 people as opposed to nearly 1,400 at one time.
Agilent reported a $100 million profit in its third fiscal quarter ended July 31, but also warned of weakening conditions in its semiconductor and semiconductor equipment sectors.
By: DocMemory
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