Published by Global Banking & Finance Review®
Posted on March 24, 2026
2 min readLast updated: March 24, 2026
Add as preferred source on GoogleOver 1,000 ASML employees staged a lunchtime walkout at the company’s Veldhoven HQ on March 24, protesting plans to cut ~1,700 jobs as part of restructuring. Unions, pointing to €9.6 billion profit and a €12 billion buyback plan, urge management to avoid forced layoffs.
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 computer chip equipment maker's plans to cut 1,700 jobs, or 3.8% of staff, as a result of a reorganization.
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.
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.
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 said that it respects unions and "fully understands that colleagues wanted to join them during their break to express their concerns."
However, it also said it was continuing its work on the reorganization, including a social plan that will address retraining employees and severance packages.
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)
ASML employees staged a walkout to protest the company's plans to cut 1,700 jobs as part of a broader reorganization.
ASML announced plans to cut 1,700 jobs, which is 3.8% of its staff, and 3,000 middle-management positions as part of a reorganization.
Unions are urging ASML's management to reconsider job cuts and present a plan that avoids forced layoffs.
ASML is developing a social plan that includes retraining employees and providing severance packages for those affected.
Unions are expected to respond to the social plan on April 7, while the internal works council will give its advice in May.
Explore more articles in the Finance category
