The world’s largest chip foundry TSMC has released a statement that the company will hire more than 6,000 new employees in 2023.
Despite the downturn in the global chip industry, hiring in the industry continues.
TSMC said it will recruit young engineers with a college, bachelor’s, master’s, or doctorate degree in electrical engineering or software-related fields in cities across Taiwan.
The company also said new engineers with master’s degrees will receive an average annual salary of NT$2 million (US$65,578.07).
The global semiconductor industry is in the doldrums due to a shortage of chips that have led to high product inventories and a decline in market demand for electronics.
Several chip companies around the world have slowed their investments since the end of 2022.
Intel, for example, recently announced that the company’s executives and mid-level employees will see their salaries cut from 5% to 25%.
TSMC produces some of the most advanced chips for high-end customers such as Apple, and the company’s market dominance in this area has shielded it from the industry downturn.
Even so, TSMC has slightly reduced its annual capital expenditure budget for 2023 and expects revenue to fall in the first quarter. But the company said it expects market demand to pick up in the second half of this year.