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

news7f10/25/2022

1 1 minute read

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