TSMC chairman Morris Chang believes the worst of the crisis is over and invited all laid-off employees to return. DigiTimes reports Chang showed regret and described the job cuts as regrettable actions.
In an internal message, Chang expressed regret that when laying off those employees the company failed to show them appropriate respect or fully consider the difficulty for them to find new jobs in the bad economic times, according to the company.
TSMC said it has dismissed several hundred employees since late 2008 to tackle a sudden decline in business amid the global slump.
The company has seen many of the laid-off employees stage protests over the dismissal.
"Although the economic crisis has not passed, we are encouraged to see that the company's revenues are improving. The second quarter is much better than the first quarter, and the worst is over," Chang said.