The COVID-19 pandemic forced significant changes on the semiconductor industry. After the shutdowns of early 2020, strong demand collided with constrained capacity. Semiconductor companies had to adjust supply chains and, like other employers, adapt to the new reality of remote work. KPMG and the Global Semiconductor Alliance conducted multiple surveys of semiconductor executives to understand the implications of these changes and challenges.
Semiconductor executives originally feared their industry would be hurt by a deep global recession. By mid-2021, it was clear the pandemic created new demand and actually functioned as a growth catalyst as the world rapidly rushed towards digitization.
Surveys conducted by KPMG and the Global Semiconductor Alliance during 2020 and 2021 illuminate important themes that characterize the industry response:
- Most semiconductor executives have invested in programs that improved employees’ safety and productivity.
- Despite income lost due to the supply/demand imbalance, only a third of semiconductor CFOs say they made changes to their supply chains. Uncertainty about future demand is the common obstacle.
- While most executives are adopting hybrid work arrangements and investing in collaboration tools to ensure employees remain connected—to one another and the company culture—there is not yet agreement on what the hybrid work environment should look like.
Read the rest of the report for additional insights.