Taiwan Semiconductor Manufacturing Company (TSMC), the largest contract chipmaker in the world, has announced its plan to recruit over 6,000 new employees in 2023, despite the current global slowdown in the chip industry.
TSMC’s Hiring Drive Despite Slowdown in Semiconductor Industry
The company has stated its intention to continue its recruitment efforts for young engineers holding degrees in electrical engineering or software-related fields, ranging from associates to doctorate levels, in various cities throughout Taiwan.
The company has also mentioned that new engineers with a master’s degree can expect an average annual salary of NT$2 million (equivalent to S$88,000).
The semiconductor industry has experienced a downturn due to a combination of factors such as a shortage of certain chips, a decline in demand for electronics, and high inventory levels.
This has resulted in a number of chip companies worldwide scaling back their investments since late 2022.
Recently, Intel announced a reduction in payments to mid-level staff and executives by 5 to 25 per cent.
TSMC’s ability to produce cutting-edge chips for top-tier clients like Apple has helped the company avoid the economic downturn.
While the company has slightly decreased its annual capital expenditure and predicted a decrease in first-quarter revenue for 2023, it has also expressed optimism that demand will increase in the second half of the year.
More About TSMC
Taiwan Semiconductor Manufacturing Company Limited, a multinational semiconductor contract manufacturing and design firm, is headquartered in Hsinchu Science Park in Hsinchu, Taiwan.
It is recognized as the most valuable semiconductor company globally and is the largest pure-play semiconductor foundry.
Additionally, it is one of the largest companies in Taiwan, with the majority of its ownership belonging to foreign investors.
