Overview

• Infineon will cut 1,400 jobs and relocate another 1,400 to lower-cost countries as part of a restructuring plan.
• The company reported a 52% drop in net profit for the third quarter, down to €403 million from €831 million a year earlier.
• Revenue for the quarter fell to €3.7 billion, down 9% year-on-year, leading to a downgraded revenue outlook for 2024.
• The restructuring aims to strengthen competitiveness, with full financial benefits expected by 2027.
• Infineon's automotive division remains stable, while other divisions face significant revenue declines.