The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Computer, Electronic And Optical Products 26.11 - Manufacture Of Electronic Components
1,400 jobs Number of planned job losses
Announcement Date
5 August 2024
Employment effect (start)
5 August 2024
Foreseen end date
Description
German semiconductor company Infineon has announced that it will cut 1,400 jobs and relocate another 1,400 worldwide.
In Austria, the company is to cut 380 jobs over the next two years Infineon-2024-AT. The programme will also affect locations in Germany, but currently no specific number is available.
The company aims to avoid compulsory layoffs by relying on measures such as early retirement, natural attrition, and retirement schemes, coordinated with the local works councils.
Under the programme, about 1,400 positions will be relocated to countries with lower labour costs (from North America to Asia). The programme is aimed at strengthening competitiveness and improving profitability. The restructuring programme follows weaker-than-expected revenue due to delayed deliveries and a broader economic slowdown affecting the technology sector.
Infineon employs about 58,600 people worldwide.
A recent restructuring programme of Infineon in Germany can be found here Infineon-2024-DE.
Eurofound (2024), Infineon, Internal restructuring in World, factsheet number 201493, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/201493.
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