AMSTERDAM Dutch semiconductor equipment maker ASML will hire 100 researchers who are leaving Philips, the companies said on Tuesday.

The hires were first reported by Dutch newspaper Het Financieele Dagblad.

ASML was founded as a joint venture between Philips and ASM International in 1984 and has become Europe's largest technology company by market capitalisation.

Philips, a former industrial conglomerate that now focuses on medical technology, has been retrenching and cutting staff after a major recall of respiratory devices.

A spokeperson for Philips confirmed the move was part of its reorganisation.

The employees switching companies are from Philips' Engineering Solutions division, including staff working on "mechatronics", the integration of mechanical control systems into electronics.

"We have worked with this group for a long time and we are happy to have them as colleagues now," an ASML spokesperson said.

ASML hired a net 7,000 employees in 2022, adding almost 20% to its global workforce, but it is expected to slow that pace this year.

The company is due to report second-quarter earnings on Wednesday.

(Reporting by Toby Sterling; Editing by David Goodman and Jonathan Oatis)