US ban on China chip exports rebounds, causes 2,700 job losses

California-based chipmaking kit-maker Lam hit by DRAM decline, inability to export to Middle Kingdom
The Biden administration's policy of restricting Chinese chip makers from accessing vital manufacturing equipment has caused damage at home, with California-based wafer fabrication equipment supplier Lam Research announcing it would layoff 1,300 employees, or about seven percent of its global workforce, as the company prepares for billions in lost revenues during the 2023 fiscal year.…