Fremont, California-based Lam Research Corporation, a supplier of wafer fabrication equipment and related services to the semiconductor industry, has announced a 7% reduction in its workforce.
The reduction will impact 1,300 employees and 1,400 temporary positions.
According to CEO Tim Archer, "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 research and development efforts, which I believe are key to Lam's long-term growth and competitiveness."
"This coming year represents a reset in the market and our business. I’m confident by taking the difficult actions we’ve announced today we’re putting Lam in a stronger position.”
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?