Ad
Ad
Ad
Ad
Ad
Ad
Ad
Ad
Ad
Ad
© alexey utemov dreamstime.com
Business |

Magnachip to cut workforce by 5%

South Korean Magnachip Semiconductor, a designer and manufacturer of f analog and mixed-signal semiconductor platform solutions, is reportedly planning to reduce its workforce by 5% in response to last year's poor performance and the general decline of the global semiconductor market.

The company has reportedly offered voluntary retirement to up to 5% of its workforce of 900, reports South Korean electronics industry media The Elec citing undisclosed sources.

The source continued to state that the move is likely a “precursor before a sale”. Magnachip declined to comment when approached by the Elec.

Last year the company recorded revenues of USD 337 million, a 28.8% decrease from 2021.


Ad
Load more news
© 2024 Evertiq AB October 10 2024 6:35 pm V23.1.22-1
Ad
Ad