US EditionInfineon to cut 1,400 jobs worldwide, relocate another 1,400, says CEO
- Infineon will cut 1,400 jobs worldwide and relocate another 1,400 to lower labor cost countries, according to CEO Jochen Hanebeck.
- The cuts will affect several hundred positions at the Regensburg plant in Germany.
- Hanebeck confirmed there would be no forced redundancies in Germany during a recent results call.
27 Articles
27 Articles
The chip manufacturer Infineon from Bavaria wants to cut around 2,800 jobs or relocate them abroad, to so-called low-wage countries. Staff meetings announced in Munich and Regensburg.
Infineon Cuts Jobs and Revenue Guidance After Q3 Miss
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Infineon to cut 1,400 jobs worldwide, relocate another 1,400, says CEO
Infineon will cut 1,400 jobs worldwide and relocate a further 1,400 positions to countries with lower labour costs as part of a previously announced cost savings programme, the German chipmaker's chief executive officer said on Monday.
The crisis in the tech sector is also affecting Infineon: Thousands of jobs are either lost or relocated to low-wage countries.
Among other locations, the site in Regensburg, Bavaria, is affected. The company, however, rules out plant closures in Germany.
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