Agilent Technologies announced a major restructuring of its Electronic Measurement businesses in response to the most severe global downturn in the company’s history. Fiscal 2009 revenue in the company’s Electronic Measurement Segment is expected to be down roughly 30 percent from 2008 to the lowest level in the company’s 10-year history. Revenue in the Semiconductor & Board Test Segment is expected to be down over 50 percent from last year and off 65 percent from its peak volume.

The company would reduce costs in its Electronic Measurement Segment by an annualized $300 million over the course of the next four quarters, sizing the Segment to achieve a 12 percent operating margin and a 21 percent ROIC at annualized revenues of $2.3 billion. It also announced a further restructuring of its Semiconductor & Board Test Segment to reduce annual costs by an additional $10 million. This restructuring will affect approximately 2,700 employees and have a cash cost of about $160 million.