Agilent doubles its job losses

Agilent Technologies doubled the number of planned job cuts yesterday in a further indication of the problems it's facing.

The former test and measurement division of HP now plans to axe 8,000 staff as revenues, and predictions, continue to fall.

Although the company reported a fourth-quarter profit of $197m, this was down from $305m in the corresponding period last year.

Revenues for the three-month period were also down - $1.6bn, compared to £3bn for Q4 2000.

Crucially, Agilent reported an operating loss of $206m for the full year, contrasting starkly with a profit of $995m last year.

Agilent is heavily dependent on orders from the communications equipment and semiconductor industries and blamed the depressed nature of the latter for its ongoing woes.