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Barchart
Barchart
Aditya Raghunath

This Chip Stock Is Cutting 4% of Its Staff Despite 40% YTD Pop. Should You Stay Far Away or Buy Shares Now?

AMAT Applied Applied Materials United States

Applied Materials (AMAT) announced a 4% workforce reduction despite shares climbing over 40% year-to-date (YTD). The chip equipment maker will eliminate approximately 1,444 positions from its 36,100-person global workforce, incurring charges of $160 million to $180 million, primarily for severance payments.

CEO Gary Dickerson cited automation, digitalization, and geographic shifts as drivers reshaping workforce requirements. The company aims to build higher-velocity teams while simplifying organizational structures.

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