ASML Plans to Cut 1,700 Jobs to Reduce Management Layers (1)

ASML Holding NV said it will cut about 1,700 jobs in the middle of a sales boom as part of a broad move to kill layers of management and become less bureaucratic.

The reductions, amounting to about 4% of staff, will largely affect managerial positions in ASML’s IT and tech departments, Chief Executive Officer Christophe Fouquet said in a statement on Wednesday as part of the company’s fourth-quarter financial results. Most of the cuts will be in the Netherlands with other job reductions in the US.

Customers and employees told the Dutch company that it was getting too complex and ...