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Taiwan chipmakers cut workers for third consecutive quarter

Taiwan chipmakers cut workers for third consecutive quarter

Taiwan Semiconductor Manufacturing Co. and United Microelectronics Corp., the world's biggest contract manufacturers of chips, cut workers for a third straight quarter to weather the global recession.
United Microelectronics reduced its workforce 15 percent to 11,619 as of March 31 from the end of June, while Taiwan Semiconductor eliminated 6.2 percent of its employees to 19,537, according to filings from the two companies. The 3,297 jobs, or 9.8 percent of the two chipmakers' workforce, cut over nine months helped drive up Taiwan's unemployment rate to a record 5.72 percent in March.
In the first quarter, Taiwan Semiconductor's profit tumbled 95 percent, while United Microelectronics posted a loss as clients reduced orders amid the slowing global economy.
Taiwan Semiconductor, based in Hsinchu, trimmed travel expenses and implemented leave without pay, helping it lower first-quarter selling, general and administrative costs by 31 percent from a year earlier, it reported on Thursday.


Updated : 2021-05-15 13:50 GMT+08:00