I live in Eindhoven, ASML town. Heard this from folks inside...
Over the years ASML promoted a lot of strong EUV people into architect roles, group leads, management tracks. Built up serious layers. Classic growth pain.
Then McKinsey comes in , says cut the management layers to speed things up. So now those same high performers, real good EUV experts, who got promoted are the ones on the block. About 3400 roles targeted, mostly management. Half will be reassigned, rest gone. Big hit in Veldhoven/Eindhoven area (~1400), some in US. Unncertainty is high, unions talking, details probably land around April.
At the same time, ASML is still planning massive growth. The new campus near the airport just got final green light from city council. Construction starts soon, phased build-out. Long term they talk ~20,000 new jobs in the region (first wave ~5k by 2028).
And the layoff packages are subpar. Philips is also based in the same town. And they had layoffs due to serious financial issues last year. Their layoff packages were much better than what ASML is offering. What a way to kill tje company culture. Especially at a time when the company is printing money.
Either if it's the first time you've heard about us, or you've been around for a while...
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De Leuvense radiomaker en schrijver Tom De Cock heeft zijn ambassadeurschap voor de @KU_Leuven opgezegd. Hij vindt het onaanvaardbaar dat de universiteit in september de paus zal ontvangen.
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Frans Timmermans laat geen spaan heel van Geert Wilders en laat zich ook totaal niet uit de tent lokken door de aanwezige media. Het is mijn favoriet niet, maar hij SLOOPT, Wilders en dat is wel mooi om te zien.
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