Recently, an employee of Gexin Chengdu Factory reported to the China Semiconductor Forum that Chengdu Gexin has officially suspended production and business, and all employees should complete the resignation procedures as required! If the resignation is not processed within the specified deadline, the company will only provide basic living expenses of 1246 yuan per month!
According to an internal notice from Gexin, employees whose contracts expire before July 18th this year will no longer renew their contracts. Other employees who resign before May 19th will receive an additional month's salary bonus in addition to n+1 compensation.
If the employee has not processed the application after June 15th, Gexin will pay a basic living allowance of no less than 70% of the minimum wage standard in Chengdu, which is 1246 yuan per month.
In fact, since mid-2018, Gexin has announced the cessation of research and development in advanced processes, and there have been rumors that the financial industry has been in contact with it and is preparing to package and sell it, as well as the previous situation of selling Singapore's 8-inch factory to the world's advanced technology. In September 2019, there were rumors that Israeli wafer foundry TowerJazz was about to acquire the Chengdu Gexin factory to expand production of the 12 inch RF SOI process. Although there was a brief contact between the two sides, it still came to an end.
Until now, the notice of suspension of work and business has been issued, requiring all employees to resign within a certain period of time, and basically announcing the complete closure of the Gexin Chengdu factory. This project, which was originally planned to have a total investment of over 10 billion US dollars, has reached such a point, which is inevitably regrettable.
