Employment News
Santa Clara, California’s Agilent Technologies will cut 600 jobs, or about 3% of its work force, as its fiscal Q1 net income dropped 47% on lower sales because of the economic meltdown.
Agilent, which makes machines to analyze DNA, chemicals, sound waves and other items, said it would immediately close two small board-inspection businesses and begin restructuring its global infrastructure operations.
Traditionally, Agilent’s business has been considered rather resilient in a recession, but pharmaceutical companies have been cutting research staffs and the recession is drying up the donations and endowments that help fuel university laboratories.
Orders fell 20%, and revenue dropped throughout the world.
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