On Semi to lay off 740 staff
In a Securites and Exchange Commission filing, On Semi said that it would incur between $58 million and $62 million in costs associated with the lay-offs. It added that it planned to re-invest a substantial portion of the savings into business initiatives and that the lay-offs would not result in savings in operating expenses.
On Semi, offers a broad range of connectivity, sensing, power management, analog, logic, timing, discrete, and custom devices. It employs about 34,000 people worldwide and in 2020 had revenue of US$5.25 billion.
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