Layoffs at Qualcomm and Linkedin
Infinera is Hiring
Welcome to the Tuesday edition of the SemiSlice SemiconductorJobs.com’s twice-weekly dive into the industry.
Today we look at the intricate details of Canon's new leap against ASML's EUV tech, and explore the challenges the semiconductor industry faces in balancing growth with environmental considerations. We're also shedding light on the financial turbulence at Qualcomm and the strategic changes at LinkedIn, plus much, much more.
Let’s dive in 🤿
NEWS 🌟
Industry Updates
Canon's Competitive Edge: Canon introduced new nanoimprint lithography, the FPA-1200NZ2C, to compete with ASML's EUV technology in advanced chip manufacturing. This innovation is particularly significant amidst the U.S.-China tech conflict and export restrictions. Read more »
Environmental Concerns in Chip Manufacturing: The U.S. semiconductor industry's growth faces environmental scrutiny as new factories could be subject to National Environmental Policy Act (NEPA) review for the first time. Read more »
Sustainability Paradox in Semiconductors: While semiconductors drive sustainable technologies, their manufacturing remains resource-intensive. Companies like TSMC are exploring more sustainable production methods. Read more »
Urgency in Memory Production Investment: Micron Technology is emerging as a pivotal domestic producer, advocating for supply chain integrity and national security. The CHIPS for America Act is expected to play a critical role in this sector, emphasizing the need for substantial investment in memory production to ensure technological independence and global competitiveness. Read more »
Qualcomm's Strategic Workforce Reduction and Financial Clues: Qualcomm is undergoing a substantial workforce reduction, cutting 1,258 jobs across its San Diego and Santa Clara locations. This decision, representing about 2.5% of its total workforce, aligns with the company's strategic restructuring to optimize its cost structure and investment focus. The layoffs, primarily affecting engineering positions, come in the wake of challenging financial results, including:
Revenue: Reported GAAP Revenues were $8.5 billion, marking a 23% decline year-over-year.
Earnings Before Taxes (EBT): EBT experienced a significant drop, standing at $1.757 billion, a 59% decline year-over-year.
Net Income: Net Income also saw a sharp decline, dropping by 52%.
Earnings Per Share (EPS): GAAP EPS followed suit, with a 51% decline from the previous year.
These financial challenges, particularly the sharp decline in revenue, underscore the subdued demand in the smartphone market, a primary revenue source for Qualcomm. The restructuring is anticipated to be mostly completed by the first half of fiscal 2024, with the company expecting to incur additional charges due to this process. Despite the layoffs, Qualcomm still seems to be hiring. Read more »
LinkedIn's Operational Streamlining Leads to Layoffs: LinkedIn has announced its decision to lay off 668 employees, a move that follows an earlier round of layoffs this year. This decision comes despite the company reporting a surge in revenue. The layoffs are part of LinkedIn's goal to streamline its operations and focus on strategic priorities. The roles affected span across various departments and global locations. While the company faces internal restructuring, it continues to be an essential platform for those working in the Semiconductor Industry. Read more »
DEEP DIVES
📚 Insights
TSMC and Globalization: TSMC confronts globalization challenges, with Morris Chang discussing the company's strategies to maintain its market leadership despite increasing international competition and geopolitical uncertainties. Read more »
Impact of the CHIPS Act: The CHIPS & Science Act, with its substantial budget allocation, is set to bolster domestic semiconductor manufacturing, enhancing national security and generating thousands of jobs, influencing companies like SkyWater Technology. Read more »
Infinera’s Expansion: Infinera is expanding its footprint in India, allocating a significant portion of its global R&D budget to harness growth opportunities in the region, driven by demand from telecom operators and tech giants. Check out jobs at Infinera »This strategy reveals a potential shift in manufacturing dynamics and a competitive stance against Chinese vendors, emphasizing secure supply chains and local production considerations. Read more »
CAREERS
🔍 Job Opportunities
Defect Reduction Engineering Senior Manager in Austin, Texas.
Lead initiatives in enhancing semiconductor manufacturing quality and efficiency. The role demands a technology-related BS degree, over 10 years of industry experience, and expertise in areas like defect metrology and 6-sigma methods. The ideal candidate should demonstrate strong leadership in high-performance teams and a deep understanding of semiconductor unit processes. This is a great opportunity to drive technological innovation at a global scale. Apply »
INNOVATION
🔨 Advancements and Collaborative Efforts
Indiana University has earmarked $111 million for microelectronics research, targeting advancements in nanotechnology and AI, in partnership with the Naval Surface Warfare Center, Crane Division. IU’s hefty investment signifies a strong commitment to microelectronics innovation, with a focus on developing secure and advanced technologies in collaboration with national entities. Read more »
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