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Semiconductor firm SiFive cuts 130 jobs
https://www.whatjobs.com/news/usa/us-employment-news/semiconductor-firm-sifive-cuts-130-jobs
By Nithya Bose in US business news, posted October 25, 2023
California-based SiFive has announced staff cuts affecting roughly 130 jobs, or 20 percent of employees.
The chip design startup specializes in open architecture RISC-V chips.
The firm said: "As we identify and focus on our greatest opportunities, SiFive is shifting to best meet our customers’ fast-changing requirements by undergoing a strategic refocusing of all our global teams.”
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However, it’s committed to producing chips for applications in AI, automotive, consumer electronics, and low-power devices.
The layoffs, which affected all company groups, including executives, do not alter SiFive's long-term plans and product lines.
SiFive competes with Arm Holdings in chip design.
It's focusing on architectural aspects rather than actual chip manufacturing.
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The company is streamlining its custom design offerings to prioritize standard blueprints.
Despite the reductions, SiFive maintains its valuation of approximately $2.5 billion from 2022 and has secured ample funding for the years ahead.
Major tech players like Qualcomm and Google have embraced RISC-V technology.
This makes it a central element in the ongoing technological competition between the US and China.
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