Problems caused by the oversupply of memory chips, which are hurting the leading semiconductor manufacturers, are spilling over onto the companies that make the equipment that makes the chips. Applied Materials Inc, Santa Clara, biggest in the field, says it is laying off 7% of its workforce – amounting to about 830 people – amid new signs of deteriorating market conditions. In addition to laying off permanent employees, it will be discontinuing the jobs of 870 temporary workers and contract employees, and top executives will take a 10% pay cut.
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