Saturday April 19, 2014


QUESTION OF THE WEEK

Survey results are meant for general information only, and are not based on recognised statistical methods.



Home »  News »  Business

Semiconductor maker Infineon to cut costs, introduce short-time work as revenue falls


Reinhard Ploss, CEO of Infineon Technologies, addresses the media in Munich, southern Germany, Wednesday, Nov. 14, 2012. THE CANADIAN PRESS/AP, Matthias Schrader

BERLIN - Semiconductor maker Infineon Technologies AG says it will cut back on investment plans and introduce short-time working as global economic uncertainty weighs on demand and revenue.

Infineon on Wednesday reported drops in revenue for the July-September period, its fiscal fourth quarter, and for the full fiscal year. Net profit improved in the fourth quarter but was down sharply for the full year.

The company says it expects revenue in the new fiscal year to drop further. It says it will temporarily switch off underused equipment, cut back on temporary workers and make "selective use" of short-time work schemes, which allow employers to reduce production without cutting their workforce.

Planned investments for the new fiscal year will be cut from 500 million ($635 million) to 400 million.


Comments


NOTE: To post a comment in the new commenting system you must have an account with at least one of the following services: Disqus, Facebook, Twitter, Yahoo, OpenID. You may then login using your account credentials for that service. If you do not already have an account you may register a new profile with Disqus by first clicking the "Post as" button and then the link: "Don't have one? Register a new profile".

The Alaska Highway News welcomes your opinions and comments. We do not allow personal attacks, offensive language or unsubstantiated allegations. We reserve the right to edit comments for length, style, legality and taste and reproduce them in print, electronic or otherwise. For further information, please contact the editor or publisher, or see our Terms and Conditions.

blog comments powered by Disqus


About Us | Advertise | Contact Us | Sitemap / RSS   Glacier Community Media: www.glaciermedia.ca    © Copyright 2014 Glacier Community Media | User Agreement & Privacy Policy

LOG IN



Lost your password?