Earnings Results
Chipmaking equipment company is latest Silicon Valley company to announce cuts
Lam Research headquarters in Fremont, Calif.
Getty Images
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…
