Agilent To Cut Staff By 500; Also Trimming 300 Temps
Agilent Technologies (A) disclosed in an SEC filing this afternoon that it will reduce its workforce by 500 positions, with most of the cuts to be completed by May 31, 2009 and the rest by October 31. The company also said it has reduced its temporary workforce by over 300 positions, and will temporarily cut pay and/or require unpaid time off for Agilent employees worldwide.
Agilent said the restructuring will reduce annual operating expenses by about $65 million; the pay reduction programs, which are effective January 1, will save another $100 million
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