According to TSMC, the company will seek young engineers
with associates, bachelor's, masters's or doctorate degrees in electrical
engineering or software-related fields, in cities all across Taiwan.
The average overall salary of a new engineer with a master's
degree is T$2 million, the company added.
A decline in demand for electronics and high inventory
levels following a shortage of some chips have led to a downturn for the
semiconductor industry.
Since late 2022, a number of chip companies around the world
have reined in investments.
Intel recently announced that it would cut payments to
mid-level staff and executives from 5 percent to 25 percent. Chief Executive
Pat Gelsinger also took a pay cut of 25 percent. Meanwhile, the company's
hourly workforce's pay will not be cut, said a person familiar with the matter
who was not authorised to speak publicly.
Gelsinger also conceded that Intel has "stumbled"
and lost market share to rivals such as Advanced Micro Devices, which on
reported quarterly sales that were above Wall Street's expectations. The
company has also lowered its 401(k) matching program from 5 percent to 2.5
percent and suspended merit raises and quarterly performance bonuses, the
person said.
TSMC's dominance in making some of the most advanced chips
for high-end customers such as Apple has shielded it from downturn.
The company slightly reduced its annual capital expenditure
for 2023 and predicts a first-quarter revenue drop, but has said it expects
demand to pick up by the second half of this year. © Reuters
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