Profit-challenged Agilent Technologies, a manufacturer of test and measurement equipment, said Monday it will eliminate 2,500 jobs in its continuing effort to cut expenses.
Although the company announced layoffs in August along with its third-quarter earnings report, the exact number had not yet been determined.
"There has been some confusion about the number of layoffs," spokeswoman Amy Flores said. "We announced in August that our goal was to cut $50 million per quarter in expenses and that there would be layoffs."
Agilent, based in Palo Alto, Calif., was spun off from Hewlett-Packard Co. in 1999.
Also Monday, Agilent reported a smaller operating loss than analysts had expected for its fiscal fourth quarter, ended Oct. 31. The company lost $236 million, or 51 cents a share, on revenue of $1.74 billion.