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.
Manufacturing Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Computer, Electronic And Optical Products 26 - Manufacture of computer, electronic and optical products
2,000 jobs Number of planned job losses
Announcement Date
25 July 2008
Employment effect (start)
1 October 2008
Foreseen end date
31 December 2009
Description
On 25 July 2008, Infineon announced to cut around 3,000 jobs. All sites, functions and levels are to be affected at the semiconductor producer. Two thirds of the job will be lost at Infineon's sites in Dresden, Munich and Regensburg. The job cuts are part of Infineon's cost-reduction programme called IFX 10+. IFX10+ is expected save at least 200 million euros annually. The company stated that due to the current market conditions, adverse foreign exchange rate development as well as the company’s restructuring programme, job cuts were inevitable.
Sources
28 July 2008: Handelsblatt
Citation
Eurofound (2008), Infineon Technologies, Internal restructuring in Germany, factsheet number 66916, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66916.
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