SemiMedia SemiMedia
  • Breaking News
  • MarketWatch
  • Distribution
  • Manufacturer
  • Video
  • About us
Home › MarketWatch › Infineon announces austerity measure
  • 0

Infineon announces austerity measure

SemiMediaEdit
May 10, 2024

May 10, 2024 /SemiMedia/ -- According to reports, affected by the continued weak demand in the semiconductor industry, Infineon recently announced an austerity measure, lowered its full-year revenue forecast and laid off employees at its Regensburg factory.

According to the austerity measure, Infineon lowered its revenue guidance for 2024 to 15.1 billion euros (approximately $16.3 billion), plus or minus 400 million euros, which is lower than the previous guidance of 16 billion euros, plus or minus 500 million euros.

Infineon said unit performance margins were also likely to be lower than forecast three months ago, at around 20%.

Infineon CEO Jochen Hanebeck said that affected by the economic situation, many end markets are weak, and customers and distributors continue to reduce inventory levels. In addition, the growth of the automotive industry has slowed significantly.

To combat this, Infineon is rolling out measures focused on production, portfolio management, pricing and operating costs. The company said these measures will have a positive impact on adjusted or segment results starting in fiscal 2025.

In addition, Infineon will cut more than a hundred jobs at its Regensburg site as part of its announced austerity measure.

A spokesman said: "On May 7, employees were informed that the changes would affect three-digit jobs in Regensburg."

However, the restructuring is expected to take place without business-related terminations and there will be no compulsory layoffs at Infineon. The company will use float, partial retirements and voluntary separations to reduce its headcount.

Related

electronic components news Electronic components supplier Electronic parts supplier Infineon
SIA: U.S. chip output expected to triple by 2032
Previous
Micron announces the industry’s first shipment of key memory products for AI data centers
Next

All Comments (0)

Back
No Comment.

Top Post

Fire broke out at AKM factory in Japan
Qualcomm ranked first in the world's top ten IC design companies
Mouser Electronics expands to the Philippines with local customer service center
Analyze the key factors and prospects of electronic components shortage from the perspective of wafer industry
What is the root cause of the decline of the Japanese semiconductor industry?
ST releases price increase notice

Subscribe SemiMedia

Please check your E-mail to confirm the subscribtion.

Related posts

TSMC to begin construction of two US advanced packaging plants in 2028

TSMC to begin construction of two US advanced packaging plants in 2028

July 11, 2025
0
China’s chip demand surge drives Korean 8-inch foundry utilization to new highs

China’s chip demand surge drives Korean 8-inch foundry utilization to new highs

July 11, 2025
0
NXP strengthens China strategy to drive global rollout of system-level semiconductors

NXP strengthens China strategy to drive global rollout of system-level semiconductors

July 11, 2025
0
Intel lays off hundreds in Israel, considers shutting down Fab 28

Intel lays off hundreds in Israel, considers shutting down Fab 28

July 10, 2025
0
Copyright © 2017-2025 SemiMedia. Designed by nicetheme.
  • Please set up your first menu at [Admin -> Appearance -> Menus]
  • electronic components news
  • Electronic components supplier
  • Electronic parts supplier
  • Infineon
  • Electronic component news
  • Renesas
  • Vishay
  • STMicroelectronics
  • NXP
  • TDK

SemiMediaEdit

Administrator