Lam Research Corp. shares declined in the extended session Wednesday after the silicon-foundry equipment supplier said it will cut its workforce by 7%, while increasing the portion it spends on R&D, as a big drop in memory-chip demand sours its outlook.
Lam Research LRCX shares declined as much as 4% after hours, following a 0.2% decline to close the regular session at $488.40.
The…
Lam Research to trim 7% of workforce, increase R&D spending as memory-chip crunch hits outlook
Lam Research Corp. shares declined in the extended session Wednesday after the silicon-foundry equipment supplier said it will cut its workforce by 7%, while increasing the portion it spends on R&D, as a big drop in memory-chip demand sours its outlook.
Lam Research LRCX shares declined as much as 4% after hours, following a 0.2% decline to close the regular session at $488.40.
The…
Source: https://www.marketwatch.com/story/lam-research-announces-cost-cuts-as-outlook-looks-bleak-11674682338?siteid=yhoof2&yptr=yahoo