(June 11): Chip-equipment maker ASML Holding NV will cut fewer jobs than planned, with redundancies not expected to take effect until May 1, following negotiations with Dutch trade unions.
ASML won’t know the final number until the process is concluded but expects the figure to be a “lot less” than 1,000 jobs, a spokesperson said.
Veldhoven, Netherlands-based ASML announced plans in January to cut about 1,700 jobs to trim layers of management and bureaucracy. The reductions represented about 4% of staff.
Staff will be told if their roles are affected next month, after consulting with the works council that represents employees, according to a union spokesperson.
Those impacted will have until May 2027 to find another role, Diederik Bonarius, spokesperson at De Unie union said. Settlements will be a maximum of €400,000, he said.
The agreement with labour unions was first reported by press agency ANP.
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ASML is the only producer of cutting-edge lithography machines that are needed to make advanced semiconductors, and has benefitted from the hundreds of billions of dollars pouring into artificial intelligence infrastructure. But some investors have questioned its ability to expand capacity fast enough to meet the surging demand of chipmakers.
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