I'd say yes and no. TSMC has over 60000 employees. They're also probably the biggest siphon of fresh graduates in Taiwan. Like most Taiwanese companies people w

I'd say yes and no. TSMC has over 60000 employees. They're also probably the biggest siphon of fresh graduates in Taiwan. Like most Taiwanese companies people work like slaves(not Foxconn China level) and have fairly low salaries. Intel has twice as many employees, but then again they're also kind of all over the place. I can't really comment how important labor costs are, but I don't think that they're insignificant.