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SiFive is a team of one of the pioneering engineers that helped create RISC-V instruction set architecture (ISA) and helped the ecosystem grow. The company has been an active member of the RISC-V community and contributed its guidance on various RISC-V extensions. However, according to sources close to More Than Moore, the company is reportedly downsizing its team, and layoffs are imminent. The impact of the downsizing is about 20% of the workforce, which equals around 120-130 staff. However, that is only part of the story. SiFive is reportedly also canceling its pre-designed core portfolio and shifting focus on custom-design core IP that it would sell to customers. This is in line with the slowing demand for their pre-designed offerings and the growing demand for AI-enhanced custom silicon. The company issued a statement for Moore Than Moore.
Additionally, there was another statement for More Than Moore, which you can see entirely below.
View at TechPowerUp Main Site | Source
SiFive PR for Moore Than Moore said:As we adjust to the rapidly changing semiconductor end markets, SiFive is realigning across all of our teams and geographies to better take advantage of the opportunities ahead, reduce operational complexities and increase our ability to respond quickly to customer product requirements. Unfortunately, as a result some positions were eliminated last week. The employees are being offered severance and outplacement assistance. SiFive continues to be excited about the momentum and long-term outlook for our business and RISC-V.
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Additionally, there was another statement for More Than Moore, which you can see entirely below.
Second statement for More Than Moore said:As we identify and focus on our greatest opportunities, SiFive is shifting to best meet our customers' fast-changing requirements by undergoing a strategic refocusing of all our global teams.
Unfortunately, with this realignment, approximately 20% of employees across all different business groups and levels were impacted. The employees are receiving severance and outplacement assistance.
SiFive continues to be excited about the long-term opportunities for the company and for RISC-V. The growth of the company has never been stronger and the opportunities never better. We are well funded for years in the future and continue to work with the market leaders in every segment.
We remain focused on our four product groups, essential, intelligence, performance and automotive, and as we explained in a press event earlier this month, have a robust roadmap to meet the needs of these markets. We see tremendous new opportunities in AI and with Consumer products like wearables and mobile as Google brings Android to the RISC-V ecosystem.
We will continue to offer customization for specific customers, offering standard and custom products where it makes sense from a business standpoint.
View at TechPowerUp Main Site | Source