Siltronic

Type
Internal restructuring
Country
World
Region
Location of affected unit(s)
Sector
Manufacturing
(26 - 27) Manufacture of electrical, electronic and optical products
26 - Manufacture of computer, electronic and optical products
26 - Manufacture of computer, electronic and optical products
500 jobs
Number of planned job losses
Job loss
Announcement Date
18 November 2004
Employment effect (start)
18 November 2004
Foreseen end date

Description

Siltronic, the German manufacturer of silicon wafers, is planning to cut around 500 of its 2,500 jobs in the field of administration. The reason for the plans is that there has been a sharp decline in business on the semiconductor markets. Siltronic employs around 6,100 staff worldwide. Due to difficulties on the semiconductor market, Siltronic has warned that it may be unable to fulfil its forecasts for the final quarter, when it had hoped to achieve a profit.

Sources

  • 18 November 2004: Reuters

Citation

Eurofound (2004), Siltronic, Internal restructuring in World, factsheet number 60813, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/60813.