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In the semiconductor industry, multiple companies including Microchip, Onsemi, and Wolfspeed, have announced layoffs and restructuring plans due to declining demand, cost-cutting measures, and broader economic challenges. 

 

Here's a more detailed breakdown: 

Companies and Layoff Details: 

• Microchip:

  Is planning to lay off about 2,000 employees, including 238 in Colorado Springs, as part of a broader cost-saving measure and restructuring. 

   

  • The layoffs are expected to save the company between $90 million and $100 million. 
     
  • They are also closing its Tempe, Arizona, wafer fabrication facility, which includes 500 job cuts. 
     
  • The company is also canceling or modifying multiple supplier agreements. 
     
• Onsemi:

  Announced plans to lay off nearly 2,400 employees in 2025. 

   

  • This includes layoffs in engineering roles. 
     
• Wolfspeed:

  Is laying off 1,000 employees, about 20% of its workforce. 

   
• Other Companies:

  • SK Hynix System IC, a wafer foundry subsidiary of SK Hynix, announced restructuring and layoffs. 
     
  • Renesas Electronics announced it would cut approximately 5% of its workforce and suspend the regular spring salary increases for 2025. 
     
  • NXP, a Dutch semiconductor company, announced plans to lay off 1,800 employees globally. 
     
  • The U.S. Commerce Department office overseeing $39 billion of manufacturing subsidies for chipmakers laid off about a third of its staff.