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China's EDA startup X-Epic forced to lay off staff, says report
By Peter Clarke, eeNews Europe
July 16, 2024
Chinese EDA software startup X-Epic Ltd. (Nanjing, China) is cutting up to half its staff according to the South China Morning Post, quoting unnamed sources.
The exact reason for the lay-offs was not given but the SCMP said that Chinese EDA firms saw their business slow in 1Q24 amid broader market headwinds. It is possible that privately held X-Epic is not yet profitable and needs to trim its burn rate.
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