Bloomberg News

Lam Research Corp. said it will fire as many as 1,100 employees, or 25% of its work force, and take a charge of as much as $65 million to restructure. It's the semiconductor equipment maker's second round of job cuts this year due to a drop in orders. The company, which has been battling Santa Clara-based rival Applied Materials Inc.'s efforts to surpass it as the largest chip-equipment maker, cited weak demand for the equipment used to make semiconductors. Lam also said that, excluding the charge to be taken in the fourth quarter, its loss from operations should be in line with analyst forecasts. The company is forecast to report a loss of 6 cents a diluted share. Shares of Fremont-based Lam fell 6 cents to $22.06 before trading was halted on Nasdaq.

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