Infineon Slims Down
It's all part of IFX 10-Plus, the restructuring plan that led to the departure of CEO Dr. Wolfgang Ziebart in May. (See Infineon CEO Quits.)
The specifics came out very early this morning on Infineon's third-quarter earnings call, after the company reported more losses, including losses in its communications group. (See Infineon Reports Q3.)
Here in San Jose, I talk to Infineon's DSL side, mostly. (See Infineon DSL: Past & Future.) Strangely, analysts on the call didn't seem to care about San Jose; many of the questions dealt instead with some place called Munich, where 650 of the employee cuts will happen.
There were also questions about whether Infineon is considering buying other companies or getting acquired itself. Pretty much not.
"There is no plan that Infineon is going to merge with anyone or is going to be sold to anyone. No such plans exist," CEO Peter Bauer said after being asked for the second or third time.
There's good reason to be asking, though. Even before NXP Semiconductors N.V. (Nasdaq: NXPI) and STMicroelectronics NV (NYSE: STM) joined forces (somewhat), a former ST executive was pitching the idea of Infineon, NXP, and ST glomming together to form a European superpower.
— Craig Matsumoto, West Coast Editor, Light Reading