On Semi to lay off 740 staff

On Semi to lay off 740 staff

Business news |
On Semiconductor Corp. has said it is planning to lay off about 740 staff during the 1H21 in order to streamline operations and focus on key markets.
By Peter Clarke

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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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www.onsemi.com

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