Largest U.S. Foundry, Lattice, Announces Layoffs

Due to the bad expectations for the future, there are many technology companies in the US have been freezing hiring and even laying off employees in recent times. Meta and Twitter have been laying off thousands or even tens of thousands of people, and the semiconductor industry has also been the hardest hit, with the largest foundry in the US, Lattice, joining the ranks of layoffs.

According to Ge-core, they have frozen their hiring plans and laid off employees, though the exact number was not mentioned, only that it would save the company $200 million in operating expenses each year.

Ge-core reported Q3 earnings just last week, with revenue of $2.1 billion for the quarter, up 22% year-over-year, and gross margin of 29.4%, or 29.9% on an adjusted basis.

Net income was $336 million, with adjusted net income of $368 million, a 27% jump year-over-year, and operating margin of 17.2%, with an adjusted operating margin of 18.8%.

These financial metrics were record-breaking, and 300mm equivalent wafer shipments of 637,000 wafers also set a new record for Lattice.

However, the next development is still not very good, the wind direction of the semiconductor industry has changed, and I am afraid that it will be difficult to slow down in 2023, and the recovery will not be until the second half of 2024.

Ge-core is the world's third largest foundry, after TSMC, Samsung, is also the largest foundry in the United States, along with them to join the ranks of layoffs, 2022 U.S. high-tech center of Silicon Valley layoffs have reached the scale of more than 100,000 people, and continue.