The world’s largest semiconductor maker TSMC plans to add 6,000 more jobs this year despite a slowdown in chip demand. The Taiwan Semiconductor Manufacturing Company is looking for new engineers and production line operators for its factories in Taiwan – in the cities of Hsinchu, Taichung, Taiwan and Kaohsiung, writes CNN.
The company specifies that it is not necessary for applicants to have experience. “TSMC is hiring both experienced professionals and first-time job seekers,” including recent graduates. The giant is looking for candidates with experience in various fields of engineering, finance, management and human resources, among others.
TSMC makes about 90% of the world’s most advanced chips. It is one of the most valuable listed companies in the world with a market capitalization of approximately $435 billion.
As for the Asian market, TSMC’s market capitalization is currently equal to that of Chinese tech giant Tencent, which is worth over $448 billion.
The Taiwanese maker’s hiring was perhaps surprising because it coincided with a general decline in global chip demand as consumers scaled back electronics purchases due to high inflation and a broader economic slowdown.
The world’s largest chip maker reported a record profit for its entire history
The company is one of the main suppliers of the American Apple
Still, TSMC reported good earnings in January but warned of a drop in revenue in the first six months of the year. The CEO said the company expects a “healthy recovery” later in 2023, with sales expected to pick up again in the second half.
Record profits last year allowed US$4 billion in bonuses to be handed out to employees, but only in Taiwan.
The board approved a plan to invest up to $3.5 billion in the company’s Arizona subsidiary, part of a previously announced $40 billion investment in the United States.
Last year, it emerged that TSMC was building a second semiconductor factory in Phoenix and increasing its investment there. The company may expand further overseas, having announced in January that it is considering opening its first plant in Europe and a second in Japan.
The world’s largest chipmaker is looking for a location for its first factory in Europe
The plant will allow the company to take advantage of booming demand from the automotive industry
TSMC currently employs about 70,000 people. This means that the company wants to increase the number of personnel by nearly 9%.
The average annual salary for a new plant engineer in Taiwan with a master’s degree would be about $65,400, according to TSMC.
By comparison, the average monthly wage in Taiwan in 2022 was $1,452, according to the government, or about $17,426 a year.
