Infineon to cut 1,400 jobs worldwide, relocate another 1,400, says CEO

BERLIN (Reuters) – Infineon will cut 1,400 jobs worldwide and relocate a further 1,400 positions to countries with lower labour costs as part of a previously announced cost savings programme, the German chipmaker’s chief executive officer said on Monday.

The cuts include the cancellation of several hundred positions at the company’s plant in the southern German city of Regensburg that had been announced earlier.

“We are ruling out forced redundancies in Germany,” CEO Jochen Hanebeck said after the company’s latest results.

(Reporting by Hakan Ersan, Writing by Miranda Murray, Editing by Friederike Heine)