Microchip Tempe plant to close soon, with more than 300 layoffs expected. What we know
Microchip filed a notice with the state of Arizona on March 3 announcing intent to lay off 330 people from the Tempe facility. When the company announced the closure in December, the plant was not planned to close until September. The closure of the plant will save the company about $90 million annually, company officials said in the filing.
Microchip Technology to lay off 2,000 employees
The layoffs will affect its Fab 4 facility in Gresham, Oregon; Fab 5 facility in Colorado Springs, Colorado; and its backend manufacturing site in the Philippines.
Microchip Technology Slashes More Jobs as Sales Sputter
Microchip Technology is reducing its workforce across manufacturing and corporate operations by about 2,000 as the embattled chip maker looks to cut costs amid declining sales.
Microchip Technology to cut 2,000 jobs as automotive demand wilts
Microchip Technology said it will cut around 2,000 jobs, or about 9% of its workforce, as the chipmaker restructures its business to combat slowing demand from automakers, sending its shares up nearly 4% on Monday.
Microchip Technology To Layoff 2,000 Employees Amid Restructuring
The company anticipates restructuring costs between $30 million and $40 million, covering cash severance and other related expenses
Microchip Technology layoffs: Chipmaker to cut 2000 jobs and closes several plants
Microchip Technology plans to cut 2,000 jobs, about 9% of its workforce, due to declining automotive demand. The restructuring will cost $30-$40 million, with expected annual savings of $90-$100 million from operations and additional $25 million from employment cuts.
Microchip Technology to lay off 2,000 employees amid weak automotive demand
Microchip Technology said on Monday it will cut around 2,000 jobs, or about 9% of its workforce, as the chipmaker restructures its business to combat slowing demand from automakers. The Chandler, Arizona-based company has been grappling with tepid demand from automotive customers that are struggling to clear existing chip inventory,
Microchip Technology Inc. stock outperforms competitors despite losses on the day
The stock's fall snapped a two-day winning streak.
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Microchip Technology to cut 2,000 chip jobs, will close Arizona fab earlier than planned
Microchip will also cease operations at its Arizona chip fab in May, affecting around 500 employees. While the company had ...
Microchip Technology CEO clarifies details behind layoffs at Fab 4 in Gresham
Microchip Technology will lay off 2,000 workers in Gresham, Colorado and the Philippines. It employs about 850 at its Gresham facility, which it calls Fab 4.
Microchip will lay off 2,000 in Oregon, Colorado and the Philippines
Microchip said Monday the 2,000 layoffs will save $80 million to $90 million on an annual basis. In addition to Oregon and ...
Microchip updates long-term targets, now sees LT revenue ‘industry growth plus’
Now sees LT gross margins of 65% vs. prior view of 67.5%-68.5%, with operating expenses of 25% vs. prior view of 22.5%-23.5%, and operating margins of 40% vs. previous view of 44%-46%. Guidance taken ...
Colorado Springs Microchip workers among thousands to be laid off
An undisclosed number of Microchip Technology employees in Colorado Springs will receive pink slips in March, part of the ...
Mutual of America Capital Management LLC Reduces Stock Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)
Mutual of America Capital Management LLC reduced its holdings in Microchip Technology Incorporated (NASDAQ:MCHP – Free Report ...
Microchip to lay off 2,000 workers, moves up Valley factory closure
On the same day TSMC said it would spend billions and hire thousands more in Arizona, another computer chip company is ...