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
US News is a recognized leader in college, grad school, hospital, mutual fund, and car rankings. Track elected officials, research health conditions, and find news you can use in politics, business, health, and education.
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.
Coverage Details
Bias Distribution
- 44% of the sources lean Left
To view factuality data please Upgrade to Premium
