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Making chips for the blue-chips Cypress has long been a leader in the chip making business. It manufactures a wide range of products including SRAM (static RAM used in cellular phones, networks, and computers), memory and data communications chips, timing devices, and PC chips. Its customers are major computer, networking, and telecom companies, including AT&T, IBM, and Motorola. About 10 percent of the company's revenues comes from military contracts. A loving, just, and merciful CEO? T. J. Rodgers, Cypress Semiconductor's CEO, thrives on media attention. His memo paper is reportedly distinguished by the header: "From the Desk of God." He has publicly spoken out against corporate welfare and politically correct hiring policies - though he is one of the biggest proponents of a raise in the annual quota for visas enabling foreign engineers to work for American high-tech companies. Holding on at all costs Cypress went through some rough times in 1998, leading industry observers to suggest Rodgers should spend less time on the soapbox and return to the hands-on management style that initially made his company a success. Like everyone else in the semiconductor business, the company had suffered as a result of falling chip prices and a saturation of the market. Rodgers refused to quit the SRAM business, despite the fact that Cypress's stock prices had fallen steadily during the preceeding two years. In March 1998, the company went through a reorganization, laying off 100 workers in Texas, consolidating operations in its Minnesota plants, and closing its test facility in Thailand. Rising out of recession Cypress switched tactics in 1999, acquiring diverse chip makers (and entering new markets) even as the memory chip industry began to pick up. In January it acquired IC Works, a maker of timing chips, and in May picked up USB-chip maker Anchor Chips for $15 million in cash. The strategy worked well, as Cypress posted the ninth-highest stock price percentage gain (278.95 percent) for the year ending January 20, 2000. Mergers, Agreements, and Acquisitions Cypress has gone through a flurry of negotiations, and the end result is a company that is ready to take on several markets. The company is financing Silicon Light Machines, and is also its supplier of wafer processing technology. Rodgers is preparing for the day that digital motion pictures take over our theaters, and is predicting that Silicon Light Machines will be handling the pixels. In January 2000 Cypress purcahsed Galvantech, Inc., an acquisition intended to speed up new product development. May 2000 saw the announcement of a guaranteed wafer supply agreement with QuickLogic Corporation, ensuring that Cypress will be provided with superior technology through 2005. Next came yet another acquisition, this time of a small radio frequency design firm. Cypress is now outfitted with key intellectual property necessary for penetration of the cellular phone market. This company intends to take stake a major claim in the lucrative cell phone market, and has the pieces in place to do so.
Cypress recruits on college campuses, and posts openings on its web site, located at www.cypress.com. Insiders admit that "the interview process is rather rigorous." Expect to face "a wolf-pack" -four to six people who "try to test your ability to cope with a little bit of stress to see if you can remain focused." Naturally, extensive technical questions are involved, and candidates are advised to "learn about T. J. as well as his company." Make sure you're familiar with the company's history and current financials as well. "It's demanding," says one employee, "but it makes receiving an offer feel like a great accomplishment."
Pressure from the top "It's really a one-man show here," remarks one employee, "most everything is run by T.J.," the "extremely outspoken," "driven" CEO. Sources say his attitude "permeates throughout the company," creating a "unique culture." One insider describes it as a "work-hard, play-hard, little-nonsense-tolerated environment." "The entire semiconductor industry is very aggressive," explains another, "but Cypress is more aggressive than most." Lavish on-site perks Sources say Cypress's numerous in-house amenities were set up by the CEO "to make his life easier." Cypress maintains cafeterias, fitness facilities, a hair salon, dry-cleaning service ("it's expensive but they deliver to your desk"), and an automotive center with discount gasoline, car washing and detailing (done while you work), and monthly oil changes. There is also a tuition reimbursement program, and workers can take classes broadcast live from Stanford University via satellite. "Cypress gives employees $1,200 every two years towards the purchase of a computer and peripherals for a home office." Unfortunately, there is no childcare center. "It's something a lot of parents here would love," say insiders. Nor is there company matching for the 401(k) program. The company does offer a "good stock option plan" however, which will be beneficial as the company recovers from the recent downturn in the SRAM and semiconductor markets. Buy a new alarm clock While their cars are being detailed, "hardworking" employees drink their free coffee in "unusually small cubicles." Not fun, considering the "very long hours" most put in. There are some lucky employees who "keep things at eight hours a day," but no one is exempt from "one hard fast rule - you must be in by 8 a.m. Our CEO reminds us via e-mails when he notices people coming in late." Respectable pay and diversity Cypress hires "only the best," and for that reason, it does not "skimp on salaries," which employees describe as "middle to high." The company also employs "an incredible amount" of minorities. It's no secret that T. J. Rodgers "actively lobbies the U. S. government to increase the number of visas awarded to immigrant workers." A number of company executives are minorities, including the VP of R&D and the CFO. Though female employees "are often the minority in their respective groups," most "seem very happy with their situations." Dress varies by department: "Marketing people always wear suits and ties, engineers wear mostly jeans." Some engineers in the California HQ even claim to wear shorts and sandals to the office. Unlimited growing room Recent college grads say they've been given "challenging projects at a much faster rate" than they would have at another companies. "Things are lean here," says one recent hire, "so if you demonstrate a willingness to take on more projects you will constantly be given challenging work." Plus, "since most of the teams are very small, you get your hands into everything - that's the best way to learn." "It's easy to get recognized for your good work," adds one source. And once you've proven yourself, "there is room for progress and it is encouraged at all levels." As one engineer sums it up, "this is a very good place for electronics engineers to learn and grow."
Joyce Sziebert
Alliance Semiconductor;Integrated Circuit Systems;Integrated Device Technology;Lattice Semiconductor;Phillips Electronics;Samsung More Company Profiles For more career information, go to Vault.com ©2000, Vault.com Inc
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