By Toby Sterling AMSTERDAM, March 24 (Reuters) - More than 1,000 ASML employees participated in a lunchtime walkout at its Veldhoven, Netherlands headquarters on Tuesday in protest against the
ASML Employees Join Walkout as Unions Protest Proposed Job Cuts in Netherlands
ASML Faces Employee Walkout Over Planned Job Reductions
By Toby Sterling
Walkout Details and Employee Response
AMSTERDAM, March 24 (Reuters) - More than 1,000 ASML employees participated in a lunchtime walkout at its Veldhoven, Netherlands headquarters on Tuesday in protest against the computer chip equipment maker's plans to cut 1,700 jobs, or 3.8% of staff, as a result of a reorganization.
Background on Job Cuts
Europe's most valuable company announced the cuts in January as part of a broader plan to shed 3,000 middle-management jobs and refocus its engineers on innovation.
Union Reactions and Demands
Union Statements
ASML should "go back to the drawing table" and present a plan that does not involve forced layoffs, said Peter Reniers, who oversees ASML labor relations at FNV, the Netherlands' largest union.
Financial Arguments Against Layoffs
Reniers said that with 9.6 billion euros ($11.1 billion) in net profit in 2025 and plans to buy back 12 billion euros worth of shares in the next three years, the company can afford to move carefully.
"They have the time and they have the resources," he said.
ASML's Response and Next Steps
Company Statement
ASML said that it respects unions and "fully understands that colleagues wanted to join them during their break to express their concerns."
Plans for Reorganization
However, it also said it was continuing its work on the reorganization, including a social plan that will address retraining employees and severance packages.
Upcoming Union and Council Actions
Unions are expected to respond to the social plan on April 7, and the company's internal works council will give its formal advice in May.
($1 = 0.8626 euros)
(Reporting by Toby SterlingEditing by Tomasz Janowski)
