Imagination Technologies, a chipmaker and leader in RISC-V, announced 20% layoffs

CTOnews.com, Nov. 14 (Reuters)-Imagination Technologies, a chipmaker and one of the key companies in the RISC-V ecosystem, plans to lay off 20% of its employees.

▲ Imagination Technologies's icon Reuters said the UK-based company signed an agreement to provide chip technology to Apple in 2020, but said it was in the midst of layoffs due to the challenging "business environment" of the past 18 months, with 559 employees by the end of 2022.

It is reported that the layoffs spread across the company, and it is said that every business will be affected.

According to Imagination Technologies's financial report, last year the company reported a pre-tax profit of 17 million pounds (CTOnews.com Note: currently about 152 million yuan) and revenue of 120.3 million pounds (currently about 1.074 billion yuan).

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