Restructuring events
European Restructuring Monitor (ERM)
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.
The German semiconductor company Infineon Technologies has announced that it will cut around 500 jobs at its site in Regensburg, Bavaria.
The chip manufacturer had announced its intention to cut a mid three-digit number of jobs, i.e. around 500 jobs. Infineon currently has around 3100 employees in Regensburg. Production in particular is affected by the job cuts. The job cuts are explained by Infineon with the aim of making the company more competitive and profitable.
There will be no compulsory redundancies. However, vacant positions will not be filled; the aim is to utilise natural fluctuation within the company. In addition, employees are to be sent into partial retirement. Employment contracts are also to be terminated by mutual agreement with the involvement of the works council. The spokesperson was unable to say when the announced job cuts will be completed.
The IG Metall trade union speaks of a "clear cut". The planned job cuts come as a complete surprise to the employees and the union. According to IG Metall, Infineon wants to increase profits by moving production to cheaper foreign countries. The union has now called for negotiations with the employer on the current plans.
In the 2023 financial year, Infineon achieved a turnover of more than €16 billion and employed around 58,600 people worldwide.
Eurofound (2024), Infineon Technologies , Internal restructuring in Germany, factsheet number 201185, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201185.