April 29, 2003 – Frankfurt, Germany – Infineon Technologies AG said it would cut as many as 900 jobs, or almost 3 percent of its work force, over the next few months, according to a report in the Associated Press.

Europe’s second-largest chipmaker said it would shed 500 positions in administration and 150 jobs in its cell phone parts division, mostly in Sweden. Outsourcing and consolidating some other operations would eliminate 250 more jobs, it said.

The Munich-based company said it would try to save 500 million euros ($550 million) through the measures. Infineon employs more than 31,000 people.