US CHIPS Act office lays off about a third of its staff, sources say
Technology
US CHIPS Act office lays off about a third of its staff, sources say
WASHINGTON (Reuters) - About one-third of the staff in the US Commerce Department office overseeing $39 billion of manufacturing subsidies for chipmakers was laid off this week, two sources familiar with the situation said.
The Commerce Department did not respond to requests for comment.
Reuters reported last month that the new Trump administration, which has embarked on a dramatic overhaul of the federal government, is reviewing the projects awarded under the 2022 US CHIPS Act. That law is meant to boost US domestic semiconductor output with grants and loans to companies across the chip industry.
About 40 staff members lost their jobs on Monday, said the sources, who spoke on condition of anonymity. The staffers, who had probationary status, received emails at about 2 p.m. EST on Monday that they were terminated and they were out the door by 4 p.m., one of the people said.
Some 20 other staffers departed last week as part of the government's deferred resignation program, the person said.
The chief investment officer of the office, Todd Fisher, resigned last week, according to an email seen by Reuters. A source familiar with the situation said his resignation was planned in recent months.
