Applied Materials Will Cut up to 1500 Jobs

Applied Materials Inc., the worlds largest maker of equipment for computer chips, is planning to cut up to 1500 jobs over the next 18 months. Although fourth quarter profits were up, the first increase in profits in over a year, the company says demand for computer chips remains low and is not expected to return to its pre-recession levels. The company, which employs around 14,500 people world wide, did not provide any deatils as to which jobs were in jeopardy.

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