German chipmaker Infineon to cut hundreds of jobs [Yahoo! Finance]
INFINEON TECHS AG S/ADR (IFNNY)
NASDAQ:AMEX Investor Relations:
infineon.com/cms/en/about-infineon/investor
Company Research
Source: Yahoo! Finance
The move comes after Infineon on Tuesday lowered its forecast for the current year after profits saw a further decline. The company announced the cutbacks without going into detail. "The workforce was informed on May 7 that the changes will affect a mid three-digit number of jobs in Regensburg," a spokesman said. The spokesman said the reorganization will occur without forced redundancies, but instead through natural fluctuation, partial retirement, and voluntary redundancy agreements. Infineon currently employs 3,100 workers in Regensburg. Sources said on Wednesday that the job cuts will affect production in particular. According to the spokesperson, Regensburg will "continue to play an important role as a location for innovation."
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