ASML expands workforce by hiring 100 researchers from Philips

ASML, the Dutch semiconductor equipment manufacturer, is set to bolster its research capabilities with the recruitment of 100 researchers who are leaving Philips. The move comes as ASML aims to enhance its position as Europe’s largest technology company by market capitalization.
ASML Holding chip businessFounded in 1984 as a joint venture between Philips and ASM International, ASML has steadily grown to become a prominent player in the semiconductor industry. As a result of its success and advancements in semiconductor technology, the company has achieved a dominant market position in Europe.

Philips, once a sprawling industrial conglomerate, has shifted its focus primarily to medical technology. Following a significant recall of respiratory devices, the company has been undergoing a reorganization that includes staff reductions.

The employees transitioning to ASML are from Philips’ Engineering Solutions division, with a focus on “mechatronics,” which involves the integration of mechanical control systems into electronics. ASML expressed its enthusiasm for the new additions, stating, “We have worked with this group for a long time, and we are happy to have them as colleagues now.”

In 2022, ASML experienced substantial growth, hiring a net total of 7,000 employees, constituting nearly 20 percent of its global workforce. However, the company is expected to adopt a more measured approach to hiring this year.

ASML’s continued success and expansion have garnered significant attention, and investors eagerly await the company’s second-quarter earnings report, scheduled for Wednesday. With its latest recruitment efforts and technological advancements, ASML is well-positioned to maintain its leading role in the semiconductor equipment market.