TSMC to cut 5 percent of its workforce

Posted on Thursday, January 22 2009 @ 3:21 CET by Thomas De Maesschalck

DigiTimes heard TSMC is planning to cut 5 percent of its workforce, about 1,000 jobs.

The planned layoffs are seen as a move to adjust to the economic downturn.

TSMC responded by saying that its annual system to evaluate employee performance is simply being carried out more strictly and should not be viewed as layoffs.

In other news, TSMC, United Microelectronics Corporation (UMC) and Semiconductor Manufacturing International Corporation (SMIC) have introduced measures to cut spending such as mandatory unpaid leave, according to company sources.

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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