With the economy taking a slow downward slide and the reduction in anticipated consumer spending companies are tightening their belts just to keep going.
TSMC and UMC are no exceptions as they both have announced that they are trying to reduce operating costs by as much as 20%.
According to an article over at DigiTimes, TSMC may be forced to lay off employees. Other solutions being talked about could include; a reduced (4 day) work week and having some employees take unpaid leave.
Read the DigiTimes article here.
TSMC was said to be undertaking a cost-reduction plan by laying off employees or compeling them to take unpaid leave, in an attempt to trim expenses by 20%. UMC has also informed its employees of a plan to implement a new work schedule where employees will only work four days a week in order to reduce company's expenses by 15-20%, the report said.
TSMC spokesperson was cited by the report as stating that the company is considerating various solutions to efficiently bring down its costs and expenses, but the spokesperson declined to disclose further details.