Lam Research headquarters campus on Cushing Parkway in Fremont. (Google Maps)
LIVERMORE — Lam Research has chopped well over 500 Bay Area jobs this year after disclosing fresh East Bay layoffs that have cut the company’s workforce and produced a grim new milestone for the tech sector.
Tech companies have now revealed plans over the last year and a half to cut well over 25,000 jobs in the Bay Area, including more than 15,000 this year alone, according to this news organization’s analysis of official filings with the state’s labor agency.
In its latest revelation of layoffs to state officials, Lam Research reported a plan to eliminate 161 jobs in Alameda County amid a semiconductor sector slowdown.
Lam Research intends to cut 155 jobs in Livermore and another six positions in Fremont, where the tech titan operates its headquarters, according to documents the company sent to the state Employment Development Department.
During multiple layoff rounds this year, Lam Research has told the state EDD that it has decided to cut 561 jobs in the Bay Area.
These Lam Research job cuts consist of 355 layoffs in Livermore and 206 at the company’s Fremont headquarters complex, EDD WARN letters show.
The current bout of tech industry layoffs has produced multiple grim milestones for the Bay Area’s wobbly — yet crucial — economic engine.
Over an 18-month period that includes all of 2022 and the first half of 2023, tech companies have disclosed plans to eliminate more than 25,800 jobs in the Bay Area.
During the first six months of this year, tech companies have revealed plans for 15,400 job cuts in the Bay Area. The total for the first half of 2023 alone already exceeds the disclosures during 2022 of more than 10,400 Bay Area job cuts.
Lam Research will make its latest job cuts effective on or around July 26, according to the filing with the EDD.
Originally published at George Avalos