Semiconductor manufacturing equipment maker Lam Research Corp. plans to lay off 1,300 employees from its overall workforce.
The cuts amount to roughly 7% of the Fremont-based company's global workforce and will affect a wide swath of its staff, CEO Tim Archer said on a conference call with analysts and investors Wednesday afternoon. Lam's layoffs arrive as demand for certain types of chips — and the equipment that makes them – has slowed in recent months.
"While the reductions are broad-based across the company, we have taken special care to preserve, and in some cases increase, our investments in the critical efforts, which I believe are key to Lam's long-term growth and competitiveness," Archer said. 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.
Of its 17,000 employees, 3,693 people are based in Silicon Valley, according to Business Journal research from 2022.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Lam Research announces layoffs at earnings - San Francisco Business TimesThe Fremont-based tool business said that the layoffs represent roughly 7% of its global employees and will affect a wide swath of the staff.
Sumber: SFBusinessTimes - 🏆 78. / 68 Baca lebih lajut »
SJC unveils new look, title in bid to expand name recognition - Silicon Valley Business JournalThe change and upcoming logo were announced last year as part of a rebranding effort to increase the airport's searchability.
Sumber: svbizjournal - 🏆 334. / 59 Baca lebih lajut »
Microsoft confirms big OpenAI funding, but not how much - Silicon Valley Business JournalAs part of a multiyear deal, Microsoft will reportedly invest a whopping $10 billion in the developer of ChatGPT.
Sumber: svbizjournal - 🏆 334. / 59 Baca lebih lajut »
Microsoft confirms big OpenAI funding, but not how much - Silicon Valley Business JournalAs part of a multiyear deal, Microsoft will reportedly invest a whopping $10 billion in the developer of ChatGPT.
Sumber: svbizjournal - 🏆 334. / 59 Baca lebih lajut »
Retirement small business tax credits, retirement changes coming in 2023 - Silicon Valley Business JournalThe SECURE 2.0 Act included in the recently-passed government funding legislation included a raft of small changes to worker retirements.
Sumber: svbizjournal - 🏆 334. / 59 Baca lebih lajut »