Infineon to cut 1,400 jobs worldwide, relocate another 1,400, says CEO
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 05 2024
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Source: Yahoo Finance
Job Cuts and Relocations: Infineon plans to cut 1,400 jobs globally and relocate another 1,400 positions to countries with lower labor costs as part of a cost-saving initiative.
No Forced Redundancies in Germany: CEO Jochen Hanebeck confirmed that there will be no forced redundancies in Germany despite the job cuts, including several hundred positions at the Regensburg plant.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
