News
 

Bookmark and Share

(0) 

Taiwan Semiconductor Manufacturing Company, the world’s largest contract maker of chips, said on Wednesday that it would rehire hundreds of its ex-employees fired in the recent quarters as the market outlook improves, at least for TSMC itself.

“Although the economic crisis continues, the company’s revenues are on the upturn and the second quarter will be much better than the first… We will not have further lay-offs,” said Morris Chang, the chairman of TSMC, reports Financial Times news-paper.

In the recent months TSMC laid off about 700 employees because of lower-than-expected sales and poor predictions. But now that the results got better, the company believes that it can re-hire its workers.

Those dismissed found it “almost impossible” to find another job during the economic downturn and were infuriated by TSMC’s decision. Angry former employees last month surrounded Mr. Chang’s house to protest at the loss of their jobs and demand bigger severance packages, reports the FT.

In late April TSMC said that it had cut recession forecast for the global chip-making market to an annual rate of 20% this year from 30% as previously thought based on data from its customers. During a forum in Hsinchu, Taiwan, organized by the government-backed Industrial Technology Research Institute (ITRI), a vice chairman of TSMC said that a primary growth driver for his company was the recent surge of demand towards chips in China caused by the government stimulus package.

Tags: TSMC, Semiconductor

Discussion

Comments currently: 0

Add your Comment




Related news

Latest News

Tuesday, July 22, 2014

7:38 pm | AMD Vows to Introduce 20nm Products Next Year. AMD’s 20nm APUs, GPUs and Embedded Chips to Arrive in 2015

4:08 am | Microsoft to Unify All Windows Operating Systems for Client PCs. One Windows OS will Power PCs, Tablets and Smartphones

Monday, July 21, 2014

10:32 pm | PQI Debuts Flash Drive with Lightning and USB Connectors. PQI Offers Easy Way to Boost iPhone or iPad Storage

10:08 pm | Japan Display Begins to Mass Produce IPS-NEO Displays. JDI Begins to Mass Produce Rival for AMOLED Panels

12:56 pm | Microsoft to Fire 18,000 Employees to Boost Efficiency. Microsoft to Perform Massive Job Cut Ever Following Acquisition of Nokia