Yangtze Memory Kicks Terminated Workers Out of Apartments

Chinese state-owned chipmaker Yangtze Memory Technologies Co. is slashing payrolls by 5% to 10% and kicking terminated employees out of their company-subsidized apartments in Wuhan, according to several employees.

The Wuhan-based flash memory chip maker joined the global list of tech companies cutting their workforces in mid-January. The global integrated circuit industry is in a downturn, and Yangtze Memory is among companies affected by U.S. sanctions on China’s semiconductor industry.