Microchip Technology (MCHP, Financial), a leading supplier of microcontrollers and analog semiconductors, has announced significant restructuring measures. The company plans to close several manufacturing operations and reduce its workforce by approximately 2,000 employees.
The restructuring will involve accelerating the closure of its wafer manufacturing plant in Arizona. Additionally, Microchip Technology will downsize its domestic facilities, its manufacturing plant in the Philippines, and other departments.
The company estimates the total cost of these restructuring efforts, including severance packages and other related expenses, will range between $30 million and $40 million.
