Following the announcement by Dutch semiconductor equipment manufacturer ASML of its thirteenth straight year of sales growth, CEO Christophe Fouquet revealed plans to cut around 1,700 jobs, representing 4% of its total workforce. The layoffs will predominantly target the technology and information technology (IT) departments. The majority of those affected will be based in the Netherlands, with a smaller number in the United States. Notably, the management level will also be impacted. ASML holds the unique distinction of being the sole company globally capable of manufacturing high-end lithography machines. Its fourth-quarter order volume soared to an all-time high, and sales are projected to keep climbing in 2026. CFO Roger Dassen explained that the company's intricate organizational framework makes coordinating employee-related processes time-consuming. The layoffs are thus intended to allow engineers to concentrate more fully on their core responsibilities.