Infineon to cut 1,400 jobs; EV slump recovery 'not yet in sight,' CEO says

Infineon sign Arc 2024_0.jpg — (BLOOMBERG)

B

By:

Bloomberg

August 05, 2024 12:14 PM

Infineon Technologies CEO Jochen Hanebeck said a full-scale recovery from a slump in electric vehicle demand is "not yet in sight" as he laid out plans to cut 1,400 jobs.

Featured Stories

New Stellantis CEO Antonio Filosa faces series of hurdles

Filosa’s ability to honestly assess where Stellantis has erred in recent years could prove vital as he works to repair relationships with dealers, suppliers and employees.

New Stellantis CEO Antonio Filosa faces series of hurdles

Trump to double steel tariffs to 50% to aid Nippon-U.S. Steel deal

Trump to double steel tariffs to 50% to aid Nippon-U.S. Steel deal

Automakers warn shortage of rare-earth magnets from China threatens U.S. light-vehicle output

Automakers warn shortage of rare-earth magnets from China threatens U.S. light-vehicle output

Finance Insurance

FTC seeks to drop one count against Asbury after Trump executive order on disparate impact

FTC seeks to drop one count against Asbury after Trump executive order on disparate impact

Latest News

BYD sales hit 2025 high in May on bigger discounts; China, key trade group urge end to price war

Toyota says new Aygo X hybrid will be Europe’s cleanest car without a plug

Donald Trump revokes EV policies with speed - and uncertain legal standing

Read the Automotive News Digital Edition for June 2

Staying current is easy with newsletters delivered straight to your inbox.

See More in Suppliers

Forvia posts slightly lower Q3 sales, but wins new business from Chinese automakers

Longtime Ford supplier Dana explores sale of off-highway unit, report says

Daily 5 report for Oct. 18: Bosch and Rivian's court fight isn't the typical supplier vs. automaker dispute

Nemak's Q3's net income takes a tumble

Staying current is easy with newsletters delivered straight to your inbox.