The world’s largest contract chipmaker, Taiwan Semiconductor Manufacturing Company (TSMC), announced that it shall hire more than 6,000 new staff in 2023.
The statement speaks of the hiring despite a global downturn in the chip industry.
TSMC’s Hiring Drive Despite Slowdown in Semiconductor Industry
As per the company statement, the company is seeking to keep a hiring drive for young engineers with associates, bachelor’s, masters’s or doctorate degrees in electrical engineering or software-related fields, in cities all across Taiwan.
The company added that the average overall annual salary of a new engineer with a master’s degree is NT$2 million (S$88,000).
Following a shortage of some chips, a decline in demand for electronics and high inventory levels have followed eventually leading to a downturn for the semiconductor industry.
A number of chip companies around the world have reined in investments since late 2022.
Recently, Intel announced that it would cut payments to mid-level staff and executives from 5 per cent to 25 per cent.
What has staved off the economic downturn to clutch TSMC, is its dominance in making some of the most advanced chips for high-end customers such as Apple.
For 2023, the company has slightly reduced its annual capital expenditure and also predicted a drop in first-quarter revenue. However, it also said that it expects demand to pick up by the second half of this year.
More About TSMC
Taiwan Semiconductor Manufacturing Company Limited is a Taiwanese multinational semiconductor contract manufacturing and design company.
The world’s most valuable semiconductor company is headquartered & operating from Hsinchu Science Park in Hsinchu. It is also the world’s largest dedicated independent (pure-play) semiconductor foundry.
It is also one of Taiwan’s largest companies and the majorly owned by foreign investors.
