- Infineon plans to cut or relocate 2,800 jobs
Chipmaker Infineon plans to cut or relocate a total of 2,800 jobs to save costs. These measures are part of a program announced months ago, with details now revealed. Specifically, 1,400 jobs will be cut, including a three-digit figure at the Regensburg site, which was already known.
Additionally, the company aims to move 1,400 jobs to lower-cost locations. This will affect all "high-wage countries" from North America to Asia, according to Infineon CEO Jochen Hanebeck. Initially, these jobs will go to more favorable countries where Infineon is already active. The exact locations of the remaining job cuts or relocations were not immediately disclosed. Infineon plans to first inform employees, with the manager ruling out involuntary dismissals in Germany. He described these measures as "a difficult step" that the management did not take lightly.
Regensburg, the location affected by job cuts, will remain "a central site," Hanebeck emphasized. It will be further focused on innovation, ensuring its long-term security. Regarding the Dresden site, the Infineon CEO stated that jobs will continue to be created there.
Infineon is currently struggling, like many other chipmakers, with weak demand for its products. In the recently concluded third quarter of its fiscal year, the company made 403 million euros in profit. While this is less than half of what it made a year ago, it is still far from a loss.
Infineon Technologies, with its CEO Jochen Hanebeck indicating, will relocate 1,400 jobs from higher-cost countries to more favorable locations to reduce expenses. Despite the job cuts and relocations at the Regensburg site, Infineon has declared that Regensburg will continue to serve as a "central site" and will be further developed for innovation, ensuring its long-term security.
