Recently, the major Chinese programmable processor (DPU) manufacturer, Nanjing Corigine Semiconductor, was exposed for owing employees wages and carrying out violent layoffs without compensation or year-end bonuses.
According to a report on June 24 by the “Jiwei Network,” a netizen claiming to be an employee of Nanjing Corigine Semiconductor posted on the job-seeking platform “Maimai,” stating that the leading DPU company, Corigine, had been withholding wages and not paying bonuses for 22 years, leaving workers helpless and resorting to online complaints.
It was revealed that Corigine had stopped paying wages since March of this year and conducted violent layoffs without any compensation. Additionally, they treated employees differently, with some not receiving year-end bonuses for 3 years, while others had been receiving them since 1999. Current employees were paid their March salaries, but those who left in March did not receive theirs.
Many employees commented in the discussion section, confirming the existence of these issues. Some expressed helplessness, “Wages have been owed for a long time, and the pressure of life has surged,” while others criticized, “I have worked for 3 and a half years without receiving any year-end bonus, owed a 200,000 year-end bonus (not counting performance bonuses) and 2 months of unpaid wages. Complaints to the company through various channels only received indifferent responses.”
Public information shows that Corigine was established in Huzhou, Zhejiang in 2015, as a high-tech company providing core chips and systems for ultra-large-scale telecommunications and enterprise-level intelligent networks, focusing on network communications, 5G, cloud data centers, and artificial intelligence. It has research centers in Silicon Valley, London, Cape Town, Shanghai, Nanjing, Beijing, Wuhan, and other locations.
In recent years, China’s economy has been continuously declining, with many companies facing bankruptcy and layoffs. Just recently:
On June 19, Li Auto, now renamed Hezhong New Energy Automobile Co., Ltd., filed for bankruptcy with 1 billion shares frozen. The news went viral on the Internet.
On June 16, China’s well-known lifestyle service platform, “58.com,” was reported to have massive layoffs affecting several core departments, with an estimated 20-30% job cuts, potentially leaving nearly 10,000 people unemployed. This news also became a hot topic online.
On May 6-7, Willie Star Toys Co., Ltd. in Shenzhen, Guangdong, announced closure without paying salaries or compensating employees. 400 workers protested at the company for two days, demanding unpaid wages and compensation.
On May 5, hundreds of workers from Guangdong Huizhou Yuangao Electric Company returned to find the factory gate locked, workshop doors changed, and they were unable to retrieve their personal belongings, and more.
However, according to Professor Xie Tian from the Moore School of Business at the University of South Carolina, “The economic winter in China is far from over; it will only get colder.”
He pointed out that due to the Chinese Communist Party covering up the economic difficulties in China, outsiders cannot access genuine economic data. But he believes that “the Chinese economy is definitely in severe decline now,” and this serious downturn “should be on the path to entering a major recession.”