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 lay off 2,000 employees
The company will also be shutting down operations at its Arizona chip manufacturing facilities in May, several months earlier than previously expected when the planned closures were announced in December
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 to cut 2,000 jobs, impacting 9% of global workforce
Microchip has reported five straight quarters of declining sales, with fourth-quarter revenue and profits falling below expectations.
Microchip Technology plans layoffs Monday in Oregon and Colorado
Microchip Technology will announce layoffs of factory workers Monday at its plants in Oregon and Colorado as the chipmaker responds to plunging 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 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, ...
Microchip Technology announces layoffs at Oregon, Colorado factories
Microchip Technology will lay off 2,000 workers, including at its facilities in Gresham, Colorado and the Philippines, it ...
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 Technology Inc. stock outperforms competitors despite losses on the day
Microchip Technology Inc. closed 42.38% short of its 52-week high of $100.57, which the company achieved on May 24th.
Analysts Offer Insights on Technology Companies: Okta (OKTA) and Microchip (MCHP)
Companies in the Technology sector have received a lot of coverage today as analysts weigh in on Okta (OKTA – Research Report) and Microchip ...
Taiwan will keep most advanced chip technology at home, presidential office says
Taiwan government will assist TSMC with its future investments in the United States while ensuring that the most advanced semiconductor technology will stay at home, the presidential office said in a ...
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Microchip Is Taking Practical Steps to Conduct Its Turnaround
Microchip Technology is a leading supplier of microcontrollers, or MCUs, which are semiconductors that act as the brains in a wide variety of common electronic devices, from garage door openers to ...
Research Analysts Set Expectations for MCHP FY2027 Earnings
B. Riley issued their FY2027 earnings estimates for shares of Microchip Technology in a research note issued on Monday, February 24th. B. Riley analyst C. Ellis anticipates that the semiconductor ...