Rumors and Responses Regarding Layoffs at Chinese EDA Company Xin Hua Zhang

TapTechNews July 15, according to a netizen's revelation on the workplace social platform on July 8, it is said that the domestic EDA (Electronic Design Automation) company Xin Hua Zhang has started laying off staff. It is alleged that the layoff ratio is as high as 50%, and the first batch of layoffs has already had conversations. In addition, a netizen with the certified information of employee of Xin Hua Zhang Technology Co., Ltd. also revealed that the layoffs are more than 50%, and the layoffs in the software department are close to 60%.

In response to this, an insider of Xin Hua Zhang told Xin Zhi Xun: The company does have a strategic contraction, but the proportion of personnel optimization is limited, and the statement that 50% of the layoffs is a rumor. If it really laid off 50% all at once as rumored, then the company simply couldn't operate normally.

According to public information, Xin Hua Zhang was founded in 2020 by Wang Li Bin, the former deputy general manager of Synopsys in China. It claims to focus on the EDA digital verification field, create an agile verification solution from chips to systems, has more than 190 independently developed patent applications, and has released dozens of commercial-level verification products based on a platform-based, intelligent, and cloud-based underlying framework, which can provide a complete EDA tool for the entire digital verification process.

TapTechNews note: Electronic Design Automation (abbreviated as EDA) refers to a design method that uses computer-aided design (CAD) software to complete the design process such as functional design, synthesis, verification, and physical design (including layout, routing, layout, design rule checking, etc.) of very large-scale integrated circuits (VLSI) chips.