TSMC Workers in Taiwan Begin to Resume Work at Some Factories After Major Earthquake

By Trisha Andrada

Apr 03, 2024 04:42 AM EDT

This photo taken on March 25, 2021 shows a factory of Taiwanese semiconductors manufacturer TSMC at Central Taiwan Science Park in Taichung.
(Photo : SAM YEH/AFP via Getty Images)

After an enormous earthquake struck Taiwan early Wednesday, April 3, Taiwan Semiconductor Manufacturing Co (TSMC) said that all of its employees were safe and that some of the evacuated workers had begun returning to certain production lines.

TSMC Employees Return to Work at Certain Facilities

A representative from TSMC told CNBC that the building sites seemed to be in good condition upon first inspection. Nonetheless, the business has chosen to suspend all work at the locations for the day. The company had previously said that, per business policy, it had evacuated some employees from certain production facilities.

According to the source, TSMC is now assessing the effects of the earthquake and will restart operations after more checks have been completed.

In a larger market, the Taiwan Weighted Index fell 0.9%. TSMC shares dropped 1%, too. At $639.65 billion, TSMC has the largest market valuation of any business on the index.

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Powerful Earthquake Hit Taiwan

The United States Geological Survey data shows that the 7.4 magnitude earthquake in Hualien County was the largest quake to hit Taiwan since 1999. Taipei, the capital city, felt the tremors as well.

Some islands and areas in Japan's southern region were initially designated with tsunami warnings by the Japan Meteorological Agency, but such classifications were subsequently revoked.

Meanwhile, the Philippine Institute of Volcanology and Seismology issued a tsunami warning in the northern part of the nation.

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