Trending: Infineon Technologies to Cut 1,400 Jobs
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Dow Jones
14:17 ET -- Infineon Technologies is one of the most mentioned companies in the U.S. across all news items in the past 12 hours, according to Factiva data. The German chip maker lowered full-year sales guidance, and said it will cut 1,400 jobs globally and redeploy another 1,400 to countries with lower labor costs. "Prolonged weak economic momentum has resulted in inventory levels in many areas overlaying end demand," Chief Executive Jochen Hanebeck said in an earnings call. Dow Jones & Co. owns Factiva. (josh.beckerman@wsj.com)
(END) Dow Jones Newswires
August 05, 2024 14:32 ET (18:32 GMT)
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