Microchip Technology to Cut About 2,000 Employees

Microchip Technology is reducing headcount at its Fab 4 facility in Gresham, Oregon, its Fab 5 facility in Colorado Springs, Colorado and its backend manufacturing facility in the Philippines along with additional headcount cuts in various business units and support groups.

• Total headcount reductions will be approximately 2,000 employees and the company estimates that it will incur between $30 million and $40 million of related costs, consisting of cash severance, other severance benefits and other related restructuring costs
• Company expects these actions to be communicated to employees in the March 2025 quarter and fully implemented by the end of the ...