SANTA CLARA, CA – As part of a restructuring plan,
Agilent Technologies Inc. announced that it will eliminate 500 positions. The majority of layoffs will occur next year by May 31, with the remaining cuts completed by the end of October.
In addition, Agilent has cut over 300 positions within its temporary workforce. Effective January 1, employees will also see temporary pay cuts and/or required time off-without pay.
The restructuring, according to the company, will enable annual operating expenses to be reduced by nearly $65 million; the reduction in pay will save $100 million. Agilent plans to take a $55 million pre-tax charge, mostly for employee severance.