Recently, the world is not peaceful, and there have been constant reports of layoffs.
Citigroup China has laid off 4000 employees, involving technical personnel from Shanghai and Dalian. Some employees were still fixing bugs one hour before being notified.
Similarly, chip manufacturers have also carried out layoffs!
Intel layoffs, affecting Chinese teams
According to informed sources, Intel informed its factory workers this month that layoffs will begin in mid July and the "preliminary" layoffs will end at the end of that month.
Intel announced the layoff of approximately 22000 employees, accounting for 20% of its global workforce, making it one of the largest layoffs in the technology industry in recent times.
Intel's newly appointed CEO Lip Bu Tan stated that the company is facing market challenges, including weak chip demand and intensified competition.
Intel executives wrote in a memo to factory employees on Monday, "We have been taking action to build a more streamlined, agile, engineering and technology driven Intel foundry to earn customer trust." This memo has been reviewed.
Intel foundries are the manufacturing department of the company.
These decisions are extremely difficult, "the executives wrote," but they are necessary to help Intel gain a more competitive market position and lay a solid foundation for the company's future
In addition, in recent years, Intel Israel has experienced a series of impacts during the company's global crisis, including hundreds of layoffs and the closure of multiple businesses.
So far, Intel Israel's layoffs have mainly focused on its R&D departments in Petativa and Haifa, including the closure of its acquired Intel Ignite and Granulate projects.
In addition, according to informed sources, Intel China will also lay off employees, with some departments cutting as much as 50%.
Several teams, including "Zhonghai R&D engineers," have submitted their names to the union and will be notified within 2-3 weeks. After the layoffs are officially implemented, they will be given one month to leave their positions.
STMicroelectronics (ST): 5000 global layoffs
On June 5th, Jean Marc Cherry, CEO of global semiconductor giant STMicroelectronics, announced that STMicroelectronics (ST) plans to lay off approximately 5000 employees by 2027, of which 2800 were announced earlier this year, covering areas such as France and Italy.
France will lay off 1000 employees, accounting for 9% of its total workforce.
Although the specific number of layoffs in Singapore has not been disclosed, as an important production base (such as manufacturing plants located in Singapore), local employees may not be completely spared.
STMicroelectronics stated that the layoffs will mainly be voluntary resignations, especially for employees nearing retirement, and incentive measures will be provided to encourage voluntary resignations.
In addition, the company plans to adjust its production lines at its Tours and Crolles factories in France, transferring some traditional wafer production to places such as Singapore, which may indirectly affect the local employee structure.
Meanwhile, Jean Marc Chery believes that after months of sluggish market conditions, semiconductor demand, especially for chips used in electric vehicles and industrial equipment, is on the rise.
According to it, STMicroelectronics' Book to Bill Ratio in the second quarter is far higher than 1, indicating that the market is in an upward cycle, which is conducive to future revenue growth.
He emphasized that the second quarter can at least reach the previous median financial forecast of $2.71 billion, and is optimistic that the recovery momentum will continue at least until the third quarter, when sales are expected to turn positive annually.
However, he also admitted that the US trade and tariff policies may bring uncertainty to the market development in the second half of 2025.
