Nov
12

Applied Materials outlook weak, to cut 1,800 jobs (Reuters)

Employees of Applied Materials, a nanomanufacturing technology solutions company, play volleyball before a backdrop of glass-structured towers which house several information technology companies at the International Tech Park in Bangalore, India, Friday, Aug. 3, 2007. Bangalore, the capital of Indian outsourcing, is perhaps the closest India comes to Wall Street. India's IT firms derive 40 percent of their global revenues from financial services clients, with 61 percent of total sales from the U.S. and 30 percent from Europe. Now that proximity, which has fueled years of growth and transformed the city into one of India's most cosmopolitan, has put Bangalore on edge. (AP Photo/Aijaz Rahi)Reuters - Applied Materials Inc , the No. 1 chip equipment maker, warned that profit in the current quarter would fall far short of Wall Street expectations due to the weakening global economy.

Original post by Reuters and software by Elliott Back

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