Lam Research reported that September was going to be its worse month for sales this year. According to several posts on indeed.com, Lam lost their contract with Samsung which is one of their biggest customers.
The Lam stock (LRCX) has also been downgraded by several brokerage firms to "sell". This does not look good.
LAM just announced RIF (code word used for Layoffs at LAM)
How many ?
When ?
Why? Because our customers are reducing or canceling orders.
The humanity. Hahahaha
10% RiF in procurement & CSBG in Fremont and some in Manufacturing in Livermore, most contractual .
My uncle who’s older than the rest of his team got laid off last week
And the most recent lay offs were older workers!
Our dept at LAM is freezing new hires. Some employees also have received layoff notice this week.