Chip giant confirms departure terms alongside details of other cuts to work benefits for those who stay
Workers at the computer chip giant, which employs more than 5,000 people in Ireland, are understood not to have been given any firm figure on the number of jobs the company would like to see go here.
‘A malignancy in society’: Tears and smirks in a Sheffield court as rioters jailed over wrecked asylum hotelRestaurant closures: ‘If it’s going to hit Dylan McGrath, it’s going to affect many businesses. The model is broken’The package outlined to staff this week involves five weeks’ pay for each year of service plus two weeks’ statutory redundancy, with a cap of 104 weeks or €500,000, whichever is lower.
The latest round of cuts was announced alongside revenue and profit figures for the second quarter that fell short of analysts’ expectations. It had been hoped the scale of that investment and importance of the resulting facility might mean the Irish workforce fared better than their colleagues across the group in terms of the job losses required.
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