Lam Research Commits $25 Million to COVID-19 Relief and Recovery Efforts
April 08 2020 - 09:30AM
Lam Research Corp. (Nasdaq: LRCX) today announced that it is
committing $25 million for global COVID-19 relief and recovery
efforts. The funds will be for short-term community assistance,
including supplies to hospitals, longer-term recovery for
communities, and relief funds to employees. Additionally, the
company has instituted a 2-for-1 matching gift campaign for
employee monetary donations to eligible COVID-19 relief programs.
“Every community around the world has been impacted by the
spread of COVID-19. The magnitude of these impacts has challenged
every aspect of our lives – health care, school systems, and
economies of every size. Supporting our employees and our
communities is a core part of who Lam is as a company,” said Tim
Archer, president and CEO of Lam Research.
The funds are being distributed to communities in which Lam has
a presence and will be directed to that community’s specific needs,
such as food security, shelter resources, and education as well as
personal protective equipment for local hospitals.
As part of Lam’s support to employees and their families during
this global pandemic, the company has implemented pay continuity
and emergency fund programs. Additionally, Lam is giving each
employee around the world below the director level a support
payment of $1,000 or the globally scaled equivalent amount for
those outside of the United States. The goal of the payment is to
empower employees to use this relief funding where they believe it
will have the greatest impact. This initiative will reach over 90%
of Lam’s approximately 10,700 employees.
Archer continued: “Every day, our employees around the world
bring energy and commitment to their work, consistently embody our
Core Values, and exemplify the very best of Lam’s culture. Without
our employees, we wouldn’t be who we are today. Throughout this
crisis, our employees have responded with genuine care for each
other, our communities, and our customers. This is our way of
providing our valued employees some financial relief to meet their
own needs or the needs of those around them.”
About Lam Research Lam Research
Corporation is a global supplier of innovative wafer fabrication
equipment and services to the semiconductor industry. As a trusted,
collaborative partner to the world’s leading semiconductor
companies, we combine superior systems engineering capability,
technology leadership, and unwavering commitment to customer
success to accelerate innovation through enhanced device
performance. In fact, today, nearly every advanced chip is built
with Lam technology. Lam Research (Nasdaq: LRCX) is a FORTUNE
500® company headquartered in Fremont, Calif., with operations
around the globe. Learn more
at www.lamresearch.com. (LRCX-B)
Company Contacts: Libra White Media
Relations (510) 572-7725
publicrelations@lamresearch.com
Ram Ganesh Investor Relations (510) 572-1615
investor.relations@lamresearch.com
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