SiFive has laid off 20 percent of its staff – representing about 140 people – and says it is having a ‘strategic re-focussing’ of its business.

“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,” says a company statement, “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.”

“We are well funded for years in the future and continue to work with the market leaders in every SiFive FE310 G000 chipssegment,” adds SiFive’s statement, “we remain focused on our four product groups, essential, intelligence, performance and automotive, and have a robust roadmap to meet the needs of these markets.”

It is thought, though not confirmed by SiFive, that the company will focus on its custom business from now on and de-emphasise the development of proprietary designs.

 

The eight year-old company has had $365.5 million of VC money and at its last round – its Series F in March 2022 – it raised $175 million at a company valuation of $2.5 billion.