Lam Research cuts 600 jobs

US chipmaker Lam Research Corp will shed 15 per cent of its workforce, or 600 employees.

The circuitry-etching tools company expects to save about $60 million a year through the job reductions. The company will be reducing other costs to achieve further savings of about $20 million annually.

The job cuts will affect regular, temporary and contract employees, and are expected to be completed by the first quarter of next year, the company said.

Source: Indiatimes