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UMC declines to comment on report it will fire workers

United Microelectronics Corp (UMC, 聯電) may fire another 500 workers after sacking 3 percent of its staff last week, the Chinese language media said, citing unidentified employees at the company. UMC declined comment.

Spokesman Alex Hinnawi did not confirm the second-largest maker of chips to other companies' specifications will fire more employees as early as tomorrow, declining to comment. UMC dismissed 266 workers last week.

"If it's not true, the company would deny it," said Jeffrey Hsieh, who manages NT$410 million (US$11.7 million) in Taiwan stocks at United Securities Investment Trust Corp. "If it's cutting back now, it means it hasn't seen signs of a recovery."

The company's sales fell 52 percent in June from a year ago to NT$4.2 billion, as falling demand for semiconductors left more than half its chipmaking machines idle. Sales may continue to drop in the quarter started July 1, the company said last month.
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