The body has announced that the company plans to lay off 250 employees, which is part of the previously announced expense reduction plan.
According to the Semiconductor website, the company has 20,000 employees worldwide. ON Semiconductor said in a filing documents, most of the layoffs will be completed by the end of the third quarter, related to severance compensation will be in 11 million to $ 14 million. Another cost-cutting program revealed, ON Semiconductor will cancel a number of senior management's annual bonus. The company said that by the macroeconomic downturn and customers under a single conservative trends affecting the adjustment of spending, cancel executives incentive to cut costs.
ON once, earlier this month announced plans to cut staff, to achieve annual savings of corporate expenses of $ 10 million to $ 15 million. Semiconductor in the second quarter of this year, once the 2011 acquisition of Sanyo semiconductor sector layoffs 10% last year, the Semiconductor announced the closure of three fab in Japan and two in the back-end packaging and testing plant in Thailand. Wafer factory was closed this year after the floods in Thailand in 2011, and several back-end factory never started before. |
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