LayoffBlog.com

February 5, 2009

ON Semiconductor to close fourth fab, plans another 350 layoffs

ON Semiconductor Corp has announced it will cut another 350 jobs as it bumps the number of fabs it plans to close up from three to four by the end of Q1 2010 as part of its ongoing cost-reduction effort.

Specifically, ON will close its last Phoenix, AZ fab by the end of Q1 2010 and transfer production from the 6-inch facility to another site within its manufacturing infrastructure. The closure is expected to result in total cash charges of approximately $8 million to $10 million beginning in the current quarter. A savings of approximately $9 million per quarter compared to Q3 is also expected, with the full benefits seen in Q2 2010. ON said approximately 350 jobs at the fab will be eliminated between now and early 2010.

Source: EDN.com

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