Leading Chinese chipmaker Yangtze Memory Technologies Corp (YMTC) will cut 10% of its staff just two months after it was hit by a US export ban, the South China Morning Post reported on Tuesday.
YTMC is one of 35 Chinese firms alongside the likes of Huawei Technologies placed on a trade blacklist by the US Commerce Department, the report said, dealing a significant blow to Beijing’s technology sector.
Read the full report: The South China Morning Post.
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