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
370 jobs Number of planned job losses
Announcement Date
25 July 2008
Employment effect (start)
25 July 2008
Foreseen end date
31 December 2009
Description
Due to accumulated losses of its chips manufacturing subsidiary Qimonda, the international semiconductor producer Infineon Technologies has launched a redundancy and saving programme called IFX 10+. According to this programme, 3,000 of the current 43,000 jobs at Infineon and its subsidiary Qimonda are to be cut all over the world. These redundancies are planned to affect all sites, employee groups and hierarchical layers. As a consequence, also the Austrian subsidiary, Infineon Technologies Austria, with its main plant located in Villach, will be affected. On 25 July 2008, Monika Kircher-Kohl, the Austrian subsidiary’s CEO, announced the planned dismissal of 370 (120 regular workers and 250 temporary agency workers) of the current c. 2,900 employees working in Austria by the end of 2009. In order to mitigate the consequences of the lay-offs for the individuals concerned, some financial compensation has been negotiated with the works council, Ms Kircher-Kohl stated.
Sources
25 July 2008: Börse-Express
25 July 2008: Wirtschaftsblatt
25 July 2008: Die Presse
Citation
Eurofound (2008), Infineon Technologies, Internal restructuring in Austria, factsheet number 66937, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66937.
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