💨 Abstract

Onsemi has announced a restructuring plan to reduce operational costs, which could lead to the layoff of approximately 2,400 employees worldwide by 2025. The chipmaker expects to incur charges between $50 million and $60 million due to these job cuts, with most of them recorded this year. The plan aims to generate savings of $105 million to $115 million annually.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖