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TSMC denies layoff plans

Posted: 23 Jan 2009 ?? ?Print Version ?Bookmark and Share

Keywords:TSMC layoff? job cut? foundry?

Foundry giant Taiwan Semiconductor Manufacturing Co. Ltd has no plans to reduce staff as the result of the economic slump, according to a company spokesman.

At least two reports making the rounds on the Internet indicated that TSMC had carried out a layoff. But the spokesman said via email that these reports were in reference to TSMC's annual performance management development system. Under this system, a portion of the 5 percent of company employees rated "improvement needed" or "unacceptable" and unable to reach performance targets, are let go.

The spokesman said the number of employees let go is not necessarily 5 percent. He declined to provide further details of the program.

TSMC is set to release Q4 08 financial results this week. A Reuters report said Jan. 20 that the foundry probably booked its weakest quarter in six years.

Earlier this month, FBR Capital Markets said TSMC's capacity utilization rate could fall below 40 percent this quarter, which would be an all-time low.

- Dylan McGrath
EE Times

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