ASML to cut up to 1,700 jobs, boost engineering efficiency
Business
ASML, Europe's most valuable company, is letting go of up to 1,700 employees as it tries to simplify how the company runs and boost engineering efficiency.
The changes mostly target management and senior technical roles, with hopes this will help ASML stay ahead in the fast-moving chip industry.
ASML hiring freeze, 1,400 engineering roles
There's a six-week hiring freeze coming up this summer, plus US job cuts have been trimmed from 300 to 185.
On a more positive note, CEO Christophe Fouquet told staff that around 1,400 new engineering jobs are on the way during this shift.
ASML is also pointing out fresh opportunities in AI, manufacturing, and customer support, so some affected employees might find new paths within the company.