Palo Alto, Calif.-Based Measurement Equipment Company Cuts Salaries.

Byline: Therese Poletti

Apr. 6--Hammered by the same economic slump that has led to layoffs at other Silicon Valley companies, Agilent Technologies announced Thursday that it would do something different to save money: temporarily cut the salaries of all employees by 10 percent.

Palo Alto-based Agilent also warned that financial results for its second quarter, ending April 30, would be disappointing due to "dramatic slowing in customer demand."

By cutting the salaries of all 48,000 of its employees, including almost 5,000 in the Bay Area, Agilent hopes to avoid the layoffs recently announced by legions of tech companies large and small, from Cisco …