Infineon has been hit hard by falling demand from troubled carmakers, its key customer group. The company's shares have fallen almost 80% this year. Shares in Infineon closed down 39.6% at 1 euro on the Dax stock exchange in Frankfurt.
Job cuts
Infineon said it expected revenues from continuing operations to decline by 30% in its next financial quarter. The firm's net loss for the whole of the 2008 financial year reached 2.9bn euros, compared with a 347m euros loss in the previous year. In July, Infineon unveiled plans to cut 3,000 jobs, or about 10% of its total workforce, as the firm looks to cut costs. Infineon is trying to sell its memory-chip unit Qimonda, which has been a drag on its business.
Another bad news to Engineering Students taking Electrical and Electronics Engineering.
Infineon - Kulim, Malaysia
