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TSMC and UMC to cut costs

Posted on Saturday, November 29 2008 @ 00:15:39 CET by

DigiTimes writes foundries TSMC and UMC have both plans to cut cots by as much as 20 percent, some of the measures including laying off employees, unpaid leaves or four-day work weeks:
TSMC was said to be undertaking a cost-reduction plan by laying off employees or compelling them to take unpaid leave, in an attempt to trim expenses by 20%. UMC has also informed its employees of a plan to implement a new work schedule where employees will only work four days a week in order to reduce company's expenses by 15-20%, the report said.

TSMC spokesperson was cited by the report as stating that the company is considering various solutions to efficiently bring down its costs and expenses, but the spokesperson declined to disclose further details.

UMC was quoted as stressing that the company has no plan to encourage staff to take unpaid leave until the end of this year, but did not comment on whether such a move will be made next year, which is just 33 days away.



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