ASML to cut fewer jobs than planned after union negotiations
Staff will be told if their roles are affected next month
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[AMSTERDAM] Chip-equipment maker ASML Holding will cut fewer jobs than planned, with redundancies not expected to take effect until May 1, following negotiations with Dutch trade unions.
Staff will be told if their roles are affected next month, after consulting with the works council that represents employees, according to a union spokesperson.
Those impacted will have until May 2027 to find another role, said Diederik Bonarius, spokesperson at De Unie union. Settlements will be a maximum of 400,000 euros (S$594,270), he said.
ASML will not know the final number until the process is concluded and the company is aiming to reduce the overall number, an ASML spokesperson said.
The agreement with labour unions was first reported by press agency ANP.
Veldhoven, Netherlands-based ASML announced plans in January to cut about 1,700 jobs to trim layers of management and bureaucracy. The reductions represented about 4 per cent of staff.
ASML is the only producer of cutting-edge lithography machines that are needed to make advanced semiconductors, and has benefited from the hundreds of billions of US dollars pouring into artificial intelligence infrastructure. But some investors have questioned its ability to expand capacity fast enough to meet the surging demand of chipmakers. BLOOMBERG
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