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China Chipmaker YTMC Cuts 10% of Staff After US Curbs – SCMP

The laid-off workers were identified as ‘poor performers’ just two months after the US chip sanctions on China hit YMTC, SCMP said

China chip industry illustration
Beijing is aiming to develop 70% semiconductor self-sufficiency by 2025 as part of the Xi Jinping government’s Made in China 2025 campaign. Photo: Reuters


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.



Read more:


Japan, Netherlands to Join US in Enforcing China Chip Curbs


Steps Made Towards Deal on Fresh China Chip Curbs: ASML


China’s YMTC Asks US Staff to Leave After US Chip Curbs – FT


China’s Chip Industry Faces Deep Pain From US Curbs – FT


US Set to Put China Chipmaker YMTC on Blacklist



Alfie Habershon

Alfie is a Reporter at Asia Financial. He previously lived in Mumbai reporting on India's economy and healthcare for data journalism initiative IndiaSpend, as well as having worked for London based Tortoise Media.


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