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 - Manufacture of computer, electronic and optical products
3,000 jobs Number of planned job losses
Announcement Date
25 July 2008
Employment effect (start)
25 July 2008
Foreseen end date
Description
Due to accumulated losses of its chips manufacturing subsidiary Qimonda, the international semiconductor producer Infineon Technologies currently faces substantial economic difficulties. Accumulated losses from April to June 2008 amounted to € 592 million. According to management, the particularly high exchange rate of the Euro in relation to the US-Dollar has negatively influenced the company’s business activities. A world-wide redundancy programme, known as IFX 10+ plan, has been developed which aims at cutting 3,000 of the current 43,000 jobs at Infineon Technologies and its subsidiary Qimonda, affecting all sites, employee groups and hierarchical layers, it was said.
Sources
25 July 2008: Börse-Express
25 July 2008: Die Presse
Citation
Eurofound (2008), Infineon Technologies, Internal restructuring in World, factsheet number 66936, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66936.
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