Chip maker to re-hire hundreds of workers

One of the world's largest computer chip manufacturers is to re-hire hundreds of workers who were laid off because of the economic downturn.

Morris...

One of the world's largest computer chip manufacturers is to re-hire hundreds of workers who were laid off because of the economic downturn.

Morris Chang, chairman of the Taiwan Semiconductor Manufacturing Company (TSMC), has declared the worst of the economic crisis is over, according to the Financial Times.

The announcement comes just a week after TSMC announced long-term plans to set up a green energy division to shore up the business in the face of falling demand for computer chips.

Chang told staff that although the economic crisis continues, the company's revenues are on the upturn and the second quarter will be much better than the first.

The company, which produces 10% of the world's computer chips, barely broke even in the first quarter of the year but, like Intel, believes the worst of the economic downturn has passed.

TSMC faced a storm of protest after implementing cost-cutting measures which included laying off around 700 workers who have struggled to find other jobs.

Chang said that by the end of May he hoped to re-hire those who had lost their jobs at TSMC. He even promised compensation to those who do not wish to return.

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