ASML to Cut 1,700 Jobs Amid Organizational Restructuring
ASML layoff: Europe's chip giant to cut 1,700 jobs — these roles face the biggest risk
Mint
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ASML, Europe's leading semiconductor equipment manufacturer, plans to eliminate 1,700 jobs as part of a restructuring aimed at improving efficiency. The company will focus on engineering roles while implementing a hiring freeze and reducing the impact of layoffs in the U.S. The move comes amid a surge in demand for its advanced lithography machines.
- 01ASML plans to cut 1,700 jobs to streamline its organization.
- 02The company will focus on creating 1,400 new engineering positions.
- 03A hiring freeze will be implemented for six weeks over the summer.
- 04Roles at risk include various management positions such as Department Managers and Project Leads.
- 05ASML expects to open several hundred new positions in AI and manufacturing despite the layoffs.
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ASML, the largest manufacturer of extreme ultraviolet lithography (EUV) machines, is set to cut 1,700 jobs as part of a major organizational restructuring aimed at enhancing efficiency. This decision follows employee feedback about the company's complex structure and comes alongside a hiring freeze planned for six weeks during the summer. The layoffs will primarily affect management roles, including Department Managers and Project Leads. However, ASML CEO Christophe Fouquet emphasized that the company aims to create 1,400 new engineering positions as part of this transformation, reflecting the strong demand for its machines, which are essential for semiconductor production. Despite the job cuts, ASML anticipates adding several hundred new roles in areas like AI and manufacturing. The company is currently negotiating with unions regarding the timing and structure of the layoffs, indicating a commitment to support affected employees.
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The layoffs may lead to job losses for many employees, while the creation of new engineering roles could provide opportunities for those affected. The hiring freeze may also impact job seekers in the tech industry.
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