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No TSMC job cuts or fab closures – Chairman Chang

Not like UMC

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The Taiwan Semiconductor Manufacturing Company, the world's biggest chip foundry, will not close fabs or cut its workforce, chairman Morris Chang has promised.

It's not the first time he's said as much during the current crisis in the world semiconductor market, but his latest comments follow rival foundry UMC's decision that the market conditions have become so bad it's necessary to lay off workers.

UMC recently rid itself of 266 staff. More may follow them out real soon.

In the circumstances, then, TSMC employees will feel heartened by Chang's optimism. The company's chairman reckons the market will improve this current quarter and during the next one.

In any case, if it came to the crunch, capital spending would be cut before TSMC resorted to the relatively small savings made by laying off staff, Chang promised. ®

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