November 22, 2004 – Siltronic, the German manufacturer of silicon wafers, said it is planning to cut around 500 administrative jobs due to what it calls a sharp decline in business in the semiconductor markets. Most of the job cuts (300) will be in Germany, according to The Financial Times Limited.

Siltronic employs around 6100 staff worldwide. The company said that it needs to ensure that it can operate profitably during all cycles of the market and that it intends to stop producing quarterly reports for the time being.