Infineon Technologies

Type
Internal restructuring
Country
Germany
Region
Location of affected unit(s)
Dresden, Munich, Regensburg
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
2,000 jobs
Number of planned job losses
Job loss
Announcement Date
25 July 2008
Employment effect (start)
1 October 2008
Foreseen end date
31 December 2009

Description

On 25 July 2008, Infineon announced to cut around 3,000 jobs. All sites, functions and levels are to be affected at the semiconductor producer. Two thirds of the job will be lost at Infineon's sites in Dresden, Munich and Regensburg. The job cuts are part of Infineon's cost-reduction programme called IFX 10+. IFX10+ is expected save at least 200 million euros annually. The company stated that due to the current market conditions, adverse foreign exchange rate development as well as the company’s restructuring programme, job cuts were inevitable.

Sources

  • 28 July 2008: Handelsblatt

Citation

Eurofound (2008), Infineon Technologies, Internal restructuring in Germany, factsheet number 66916, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66916.