SiliconBeat

Lam Research has decided it won’t occupy one of two new buildings in Livermore that it agreed to lease from BNP Paribas in December 2007. As of the end of 2008, Lam had $170.2 million in restricted cash and short-term investments set aside as collateral required under the lease agreements, according to the company’s May 8 quarterly financial filing with the SEC.

Lam, which is also in the process of laying off 375 workers, or about 10 percent of its staff, is among the makers of specialized equipment and processes used to manufacture chips that have seen sales severely contract during the current recession.

In its quarter ended in March, Lam reported a 72 percent plunge in sales to $174.4 million from $613.8 million in the comparable quarter the year before.

In an effort to get its fiscal house in order, Lam also decided to prepay $237.5 million in debt it had arranged for with ABN AMRO Bank.