MARCH 7, 2021 — ROUND TWO: ANOTHER 740 LAYOFFS COMPANY-WIDE
The company has announced that it plans to layoff an additional 740 employees across the enterprise in the first half of 2021.
In an 8-K filing with the Securities and Exchange Commission, the company declared…
“On March 4, 2021, as part of its ongoing efforts to realign its investments to focus on growth drivers and key markets and streamline its operations, ON Semiconductor Corporation plans to implement certain employee terminations during the first half of 2021. The Employment Separations will impact approximately 740 of the Company’s and its subsidiaries’ employees globally.”
“ The Company plans to reinvest a substantial portion of the savings generated from the Employment Separations into its continuing workforce and certain business initiatives and opportunities. The Company intends to continue to evaluate measures to realign its investments to achieve the Company’s strategic and transformational goals.”
APRIL 17, 2020 — Original post…
Phoenix, Arizona-based ON Semiconductor, a manufacturer and supplier of semiconductor chips for commercial, industrial, and military applications, has announced that it was undertaking a restructuring effort which includes laying off 475 employees as part of a cost-cutting program.
According to a company spokesperson…
"As previously disclosed on March 6, 2020, ON Semiconductor Corporation has been in the process of undertaking certain restructuring measures to realign its investments. The Company believes that these restructuring measures should enable it to optimize its cost structure and accelerate its progress towards its target financial model. These targeted cost reductions are structural in nature and are not expected to impact the Company’s ability to respond to a significant recovery in demand.
On April 3, 2020, as part of these ongoing efforts to reduce costs, the Company determined to implement certain employee terminations during the first half of 2020. The Employment Separations will impact approximately 475 of the Company’s employees who are located in the Company’s corporate headquarters and in other locations where the Company has operations. The Company is continuing to evaluate and implement additional measures that would be expected to result in further cost savings. “
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?