Infineon to cut 1,400 jobs worldwide and move 1,400 positions to low-cost countries

German chipmaker Infineon announced on Monday that as part of its previously announced cost-saving plan, the company will cut 1,400 jobs worldwide and move another 1,400 positions to countries with lower labor costs. The layoffs include the earlier announcement of the elimination of hundreds of positions at the plant in the southern German city of Regensburg. Infineon CEO Jochen Hanebeck said: "We have ruled out the possibility of compulsory layoffs in Germany."