Rehovot to loose about 1500 jobs

Applied Materials announced it would cut 1,300 to 1,500 jobs over the next 18 months, including about 50 in the headquarters of its Israeli branch in Rehovot, which has 900 employees. Those to be fired will be informed next week. The company will fire 10%-12% of its workforce globally, and the move is expected to save $450 million a year. The company makes equipment for the semiconductor industry.

Ido Solomon, Haaretz.com