ASML restructures workforce, lets go 1700

ASML, the Dutch manufacturer of advanced lithography machines for chip production, has announced plans to cut approximately 1,700 jobs as part of a restructuring. The company also stated it will create around 1,400 new engineering positions to support growth areas, resulting in a net reduction of roughly 300 roles. The changes are intended to align the workforce with evolving business priorities, particularly in AI-related chip demand.

The job cuts come amid a slowdown in ASML's business. In the first quarter of 2026, ASML reported bookings of €3.6 billion, a 44% decrease compared to the same period last year. CEO Christophe Fouquet attributed the decline to a 'more uncertain macroeconomic environment' but expressed confidence in long-term AI-driven demand for chipmaking equipment. The new engineering hires are expected to focus on next-generation lithography systems for advanced chips.

ASML's move reflects broader industry trends where companies are restructuring to invest in AI-related technologies while trimming costs. The company employs over 42,000 people globally and has historically maintained strong margins due to its near-monopoly on extreme ultraviolet (EUV) lithography systems. Analysts noted that the restructuring is moderate relative to the firm's size and appears focused on rebalancing skills rather than broad headcount reduction.