ASML cutting 1,700 jobs to streamline operations.

ASML cutting 1,700 jobs to streamline operations. Europe's chipmaking giant, the world's only large-scale producer of extreme ultraviolet lithography machines, is eliminating management roles including department managers, team leaders, and product owners. The restructuring follows complaints about organizational inefficiency. Despite layoffs, ASML plans to create around 1,400 new engineering positions as the company capitalizes on AI-driven demand for its machines, which cost up to $400 million each and are essential for semiconductor production. A summer hiring freeze is also planned. ASML's reorganization reflects broader industry trends as Microsoft, Amazon, Google, and Meta have similarly targeted middle management in recent years.