Lam Research Corp., a manufacturer of semiconductor manufacturing equipment, intends to lay off 1,300 workers from its total workforce.
The layoffs will affect roughly 7% of the Fremont-based company’s global workforce, according to CEO Tim Archer on a conference call with analysts and investors Wednesday afternoon. Lam’s layoffs come as demand for certain types of chips — and the machinery used to manufacture 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 unclear how many Bay Area employees would be affected by Lam’s layoffs. Company representatives declined to comment on the location of the layoffs.
According to Business Journal research from 2022, 3,693 of its 17,000 employees are based in Silicon Valley.