The Press Stories
The Chinese company has asked US employees to leave after Apple decided that using cheap Yangtze Memory Technologies Corp (YMTC) memory chips in iPhones was too risky.
According to a report in the Financial Times (opens in new window), all US employees in key technical positions at YMTC are being fired from the company. Speaking about what is happening at the company, one person said: “Asking employees to resign is necessary for the company and the right decision for the personal risks of the employees. »
YMTC’s decision to lay off American employees was an inevitable reaction to sanctions imposed by the US government to limit China’s access to advanced technologies. Last month, YMTC chief executive Simon Yang, who holds a US passport, decided to step down as vice chairman of YMTC. It is unclear whether he will now be forced to resign from the company.
YMTC is currently on the US government’s non-verified list, which is non-punitive, but may be placed on the entity list (export blacklist) in the future. The problem facing the company, and all China-based chip companies, is building manufacturing facilities that don’t rely on American technology but staff them with people who don’t hold American passports.
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