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Neo1
A much saner step than outright layoff.
DaveR1234
Duh?? I think they just want the workers to be able to spend more time with ...
Infineon cuts workers' hours ahead of downturn
Peter Clarke
11/16/2012 8:29 AM EST
Tough winter ahead
"Altogether, this is saving over 100 million euros. By putting these measures into place, Infineon is taking the appropriate reaction of a healthy company to a weak market environment," said Ploss in the statement.
Ploss said that Infineon had already begun implementing short-time working at its facility in Warstein with effect from September in response to declining demand for industrial applications. Ploss did not detail how extensive the short-time working would be across Infineon, or how deep it would likely cut into workers' hours, or whether they would continue to take home their basic contracted remuneration.
Infineon is forecasting that the fourth calendar quarter, the first quarter of its 2013 fiscal year, will see sales reduce by low teens of percentage sequentially. It expects all of its business units to report lower revenue.
For all of fiscal 2013 Infineon is forecasting reduction in revenue compare to the previous fiscal year by a mid-to high-single digit percentage rate based on the assumption of a tough first half of the year and an improved second half.
"Altogether, this is saving over 100 million euros. By putting these measures into place, Infineon is taking the appropriate reaction of a healthy company to a weak market environment," said Ploss in the statement.
Ploss said that Infineon had already begun implementing short-time working at its facility in Warstein with effect from September in response to declining demand for industrial applications. Ploss did not detail how extensive the short-time working would be across Infineon, or how deep it would likely cut into workers' hours, or whether they would continue to take home their basic contracted remuneration.
Infineon is forecasting that the fourth calendar quarter, the first quarter of its 2013 fiscal year, will see sales reduce by low teens of percentage sequentially. It expects all of its business units to report lower revenue.
For all of fiscal 2013 Infineon is forecasting reduction in revenue compare to the previous fiscal year by a mid-to high-single digit percentage rate based on the assumption of a tough first half of the year and an improved second half.
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yalanand
11/18/2012 1:34 PM EST
@Peter, thanks for the post. Will this cutting of work hours will result in reduction in salary of the employees ?
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DaveR1234
11/19/2012 11:36 AM EST
Duh?? I think they just want the workers to be able to spend more time with their families.
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peter.clarke
11/19/2012 4:55 AM EST
@yalanland
I have asked that specific question of the Infineon press relations team. So far no response.
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eewiz
11/19/2012 11:16 AM EST
Most prbly yes. the salary is reduced. to prevent a layoff
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Neo1
11/19/2012 9:52 PM EST
A much saner step than outright layoff.
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