Infineon announces layoffs as Q3 results disappoint Infineon has become another chipmaker to shed a chunk of the workforce to cut costs after reporting shrinking sales. Germany's largest semiconductor biz says it plans to expunge 1,400 jobs worldwide and relocate a further 1,400 positions to countries with lower labor costs, all part of a previously announced cost savings …
Infineon management and board are perfectly capable of forecasting, and steering a sensible strategy. There are plenty of white papers online, laying out what management would have done, and that they opposed the decisions that are now causing job losses. However, like most European large caps, they don’t control anything any more. The EU Commission tells them what “European industrial policy” is, and management implement it. If the management *didn’t* JFDI as ordered, they’d be replaced in a matter of months.
Cf. Siemens ludicrous “decision” to buy Gamesa. That one was directly instructed by none other than a certain Thierry Breton. His “judgement” was so good, that the German government ended up bailing out Siemens for €8bn just a decade later. Speaking of which, how’s Breton looking for French Prime Minister these days? Given that his party wasn’t even in third place, but that doesn’t seem to matter in French “democracy” these days.
As predicted by whoever has three or more brain cells, the crazy German energy policy now hits home. The Green Maoists have killed off the last nuclear power stations almost at the same time America blew up the Methane pipeline in the Baltic sea.
Their insane "plan" is to also kill off the coal power and replace it by wildly fluctuating wind and solar. They have no clue about PROVEN energy storage for weeks and months, as would be necessary to handle these fluctuations. They hallucinate of H2 based storage, but simply don't care about the 80% or so loss from leccy->H2->leccy. Their "plan" is based on pipe dreams which are considered impossible by whoever has a clue about power engineering and physics.
After H2 storage, electricity would be 5x more expensive than it already is(due to 80% conversion loss) !
Electricity prices in Germany are now eight times higher than China !
All industries (especially semiconductor production and data centers) needed competitive energy and if they lose it, they are going to tank. But that’s OK for German commies, as they hate their own nation. The crazies have again taken control of Berlin.
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