Wolfspeed receives conditional $1.5b loan commitment

What it means for hiring

Wolfspeed has received a conditional loan commitment letter from the US Department of War, through its Office of Strategic Capital, for up to $1.5 billion of long-term financing. The money is to support domestic development and production of silicon carbide materials and wide bandgap power devices, with an additional focus on national security applications.

For anyone recruiting in silicon carbide this changes a conversation that has been running all year. Wolfspeed engineers have been taking approaches on the assumption that the company was the risky place to be, and a conditional commitment of this size is the strongest counter-argument their management has had in some time. Expect retention to firm up and counter-offers to get easier to make. The defence element cuts the other way for European employers: work tied to national security programmes brings nationality and clearance conditions, which narrows who can do it and tends to keep people where they are. Competitors hoping to pick up experienced device and materials engineers cheaply should plan for a harder year.

Read the original at PCIM News Platform .