Weekly IC News Flash: The reorganization of Jiangsu Times Memory Semiconductor Co., Ltd., China's last uncompleted 12-inch semiconductor fab, has encountered setbacks due to a contractual breach by restructuring investor Huaxin Jiechuang. Amidst this, Intel has announced significant layoffs and the closure of several fabs, offering a compensation package of N+3. Furthermore, the RISC-V chip company MIPS has been acquired by GlobalFoundries, marking a step towards industry consolidation. Additionally, Intel has embarked on a large-scale layoff plan, with employees being asked to leave within three days.