TECHNOLOGY - Aug. 27, 1998
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Applied Materials Inc. shares fell 6% after the computer chip equipment maker said it will take an unspecified charge as it cuts 2,000 jobs, or 15% of its work force. Shares of Santa Clara-based Applied, the No. 1 maker of semiconductor-manufacturing equipment, fell $1.88 to close at $29.56 on Nasdaq. The job cuts are Applied’s latest effort to compensate for a slowdown in the chip equipment market, caused by weak computer sales and the economic crisis in Asia.
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