Agilent to Cut 4,000 More Jobs

SAN JOSE, Calif., Nov. 16 -- Agilent Technologies Inc. said it will trim another 4,000 jobs in addition to the 4,000 previously announced, in an effort to cut costs. The combined total represents 19 percent of the company's work force. The company also said it is extending or reinstating pay cuts announced in April and reducing its real estate holdings.

"These latest cost-cutting actions are intended to return Agilent to profitability sometime during our third fiscal quarter of 2002," said Ned Barnholt, Agilent's chief executive. "Well before Sept. 11, it was clear that the downturn was deeper and would last longer than we believed earlier in the year," Barnholt said. "It's now clear our main markets -- communications and semiconductors -- will remain weak for some time."