Infineon Technologies, a leading German semiconductor manufacturer, has announced plans to cut 1,400 jobs worldwide as part of its ongoing cost-saving measures. The company will also relocate another 1,400 positions to countries with lower labor costs. This announcement was made by Infineon’s Chief Executive Officer, Jochen Hanebeck, on Monday.
The job cuts will include several hundred positions at Infineon’s plant in Regensburg, located in southern Germany, which had been previously announced. Despite these reductions, Hanebeck assured that there would be no forced redundancies in Germany.
“We are ruling out forced redundancies in Germany,” Hanebeck stated following the company’s latest financial results.
This strategic move is part of Infineon’s broader effort to enhance operational efficiency and maintain its competitive edge in the global semiconductor market.