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Chip Maker Imagination Technologies To Cut 20 Percent Of Its Workforce

The company has reportedly cited the challenging business environment for taking the decision to lay off its employees.

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Chip maker Imagination Technologies is going to cut 20 percent of its workforce. The company has reportedly cited the challenging business environment for taking the decision to lay off its employees.

It is pertinent to mention that the semiconductor business has slowed down since the post-pandemic recovery period. The industry has been marred by issues of chip shortage, low consumption and supply chain problems. The geo-political situation between China and the US specifically with regard to the restrictive export policy.

Imagination is a chip-manufacturing and AI chip-designing company that supplies its products to third-party manufacturers in their electronic products. 




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