Infineon to cut 1,400 jobs worldwide, relocate another 1,400, says CEO

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BERLIN : 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.

"We are ruling out forced redundancies in Germany," CEO Jochen Hanebeck said after the company's latest results.

The cuts include the cancellation of several hundred positions at the company's plant in the southern German city of Regensburg that had been announced earlier.

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Category: EconomyBusiness

Markets: SingaporeGermany

Topics: German Positions Experience Results Jochen Mediacorp Announced Germany Infineon Hanebeck Company

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-05 @ 15:11:16 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 159 words

Reading Time: 1 minutes read

Sentences: 7 lines

Sentence Length: 23 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 21928358

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