MediaTek has denied several Taiwan media reports saying the company plans to lay off about 3,000 employees within a year.

"MediaTek does not currently have any large scale layoff plans," said the company in a filing with the Taiwan Stock Exchange (TSE). "MediaTek reserves the right to seek any and all available legal recourses against any unconfirmed reporting or publication of false information that misleads investors and the public, and potentially affects company operations and the credibility of the company and its management."