Semiconductor manufacturing equipment maker Lam Research Corp. plans to lay off 1,300 employees from its overall workforce.
It was not immediately clear how many Bay Area employees would be affected by Lam's cuts. Company representatives declined to comment on where the cuts will take place. Lam's business has significant exposure to the memory chip market, which has suffered from a steep decline in demand. The company expects memory spending to continue to drop, Archer said on the call.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: