The Luxembourg-based company, which is in the process of cutting 1,000 positions, or 15% of its 6,500-strong workforce, said that in the fourth quarter it experienced weak demand and continuous price pressure, particularly in telecoms.
Riven by a boardroom battle and faced with a tax demand by French authorities who dispute the company’s claim to have moved to Luxembourg, Gemplus seems certain to cut its workforce further to bring costs in line with the decline in revenue.
Source: Computerwire
