Applied Materials will cut about 4% of its workforce, or roughly 1,400 jobs, to streamline operations, the chip equipment maker said on Thursday as tighter U.S. export controls on semiconductors weigh on its business.
The company, one of the largest U.S. makers of semiconductor manufacturing equipment, will take a charge of $160 million to $180 million for the layoffs, mostly in the fourth quarter of fiscal 2025, it disclosed in a regulatory filing.
Late in September, Washington cracked down on companies in China and other countries that use…
