LAM Research layoffs, on the record
Every job cut, severance charge and restructuring LAM Research reported in its annual reports, 2024 to 2026, quoted from the filings. Headcount went from approximately 17,450 to approximately 23,300.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2024 | approximately 17,450 | August 22, 2024 |
| 10-K for 2025 | approximately 19,000 | August 7, 2025 |
| 10-K for 2026 | approximately 23,300 | August 4, 2026 |
Job cuts, severance and restructuring
Our summaryInitiated a restructuring plan to better align cost structure with economic outlook, terminating employees through workforce reduction, with the plan substantially complete by June 30, 2024.
Word for word“Under the plan, through June 30, 2024, the Company terminated approximately 1,760 employees, incurring expenses related to employee severance and separation costs.” 10-K for 2024
Our summaryRecorded net restructuring costs split between cost of goods sold and operating expenses for the restructuring plan in fiscal 2024.
Word for word“During the fiscal year ended June 30, 2024, net restructuring costs of $ 43.4 million and $ 18.2 million were recorded in Restructuring charges, net - cost of goods sold, and Restructuring charges, net - operating expenses, respectively in the Consolidated Statements of Operations.” 10-K for 2024
Our summaryAnnounced a restructuring plan consisting of a workforce reduction in January 2023.
Word for word“In January 2023, we announced that we were implementing a restructuring plan consisting of a workforce reduction, and that we anticipated undertaking, and may in the future undertake, additional business restructuring, realignment and transformation initiatives.” 10-K for 2024
Our summaryNo restructuring costs were recorded in fiscal 2025 under the plan.
Word for word“No restructuring costs were recorded during the fiscal year ended June 29, 2025.” 10-K for 2025
Our summaryThe restructuring plan was substantially completed, with total cumulative costs reported.
Word for word“The restructuring plan was substantially completed as of June 30, 2024, and cumulative costs as of June 30, 2024 totaled $ 181.9 million .” 10-K for 2026
Our summaryThe company recorded no restructuring costs in the two most recent fiscal years.
Word for word“No restructuring costs were recorded during the fiscal year ended June 28, 2026 or June 29, 2025.” 10-K for 2026
| Fiscal year ended | Restructuring charges | Cash paid for restructuring | Positions eliminated |
|---|---|---|---|
| 2023-06-25 | $120.3 million | $108.4 million | 1,650 |
| 2024-06-30 | $61.6 million | $60.7 million | — |
LAM Research filed 1 restructuring notice (Form 8-K, Item 2.05) since 2016. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from LAM Research’s annual reports (10-K for 2026, 10-K for 2025, 10-K for 2024) and the financial data it files with the SEC, as of 2026-08-07. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.