Business

China’s top chipmaker retaliates by laying off US employees in core technology, former chief executive’s position undecided


  • Chinese chip manufacturer Yangtze Memory Technologies Corp laid off American employees in core technology positions after the US embargo on China.

  • Some US citizens and green card holders in China have left the memory chip maker, Financial Times report.

  • Some Americans are said to be key to YMTC’s breakthroughs in Nand memory chip production.

  • Also read: Taiwan semiconductors bear the brunt of US tensions with China, 2022 budget cut by 10%

  • Top US chip equipment suppliers Lam Research Corp (NASDAQ: LRCX), Applied Materials, Inc (NASDAQ: AMAT), and KLA Corp (NASDAQ: KLAC) has suspended sales and service to semiconductor manufacturers in China.

  • Based in the Netherlands ASML Holding NV (NASDAQ: ASML) urges US employees to stop serving all Chinese customers while assessment of sanctions.

  • YMTC’s longtime CEO Simon Yang, who holds a US passport, has resigned in the face of sanctions attributed to Washington’s increasing pressure on the company.

  • Yang transitioned from the role of Chief in late September to Vice President. His current role in the company has yet to be decided.

  • YMTC is on the verge of settling for a place for its semiconductors in Apple Inc’s (NASDAQ: AAPL) iPhone this summer until the sanctions go into effect.

  • The YMTC is said to have negotiated the exit of some Americans who did not want to give up their US passports.

  • China’s semiconductor companies are not only focusing on ‘non-U.S.’ production lines, but also on ‘non-American’ production groups, as they have struggled to find experienced staff.

  • Company profiles in China show Americans among the top Chinese semiconductor manufacturers and suppliers.

  • mohamed hassan’s photo via Pxhere

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