Applied Materials quietly laid off a tiny portion of its work force, a Wall Street analyst said Monday. The largest maker of chip-manufacturing equipment enacted "modest" cuts across all its divisions, Prudential Securities analyst Shekhar Pramanick wrote in a research note.
Last week, San Jose Mercury News, citing unnamed sources, said Applied cut 100 jobs, or about 0.5 percent of its total employees.
An Applied Materials spokesman said he couldn't comment on operations because of Securities and Exchange Commission rules that require companies to maintain a "quiet period" in the weeks leading up to quarterly earnings reports. Applied's third-quarter report is set for Aug. 14.