NWF owner Vishay decides to cut 800 jobs
Business news
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By
Peter Clarke
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Passives and discrete chips company Vishay Intertechnology Inc. (Malvern, Pennsylvania) has announced a restructuring plan that includes cutting about 800 jobs.
Vishay said the restructuring actions were required to “optimisethe company’s manufacturing footprint” and to streamline business decision making.
The actions include:
- cutting 170 employees in sales and general administration, or about 6 percent of the SG&A workforce between now and 4Q25.
- the closure of three factories; a diodes packaging facility in Shanghai, China is expected to be closed by the end of 2026 with production transfers completed in phases beginning 4Q25. In addition, resistor factories in Fichtelberg, Germany, and in Milwaukee, Wisconsin, are expected to be closed in 2026. As a result of these facility closures, Vishay will reduce its direct labor by approximately 365 employees, or 2 percent of its total manufacturing labor workforce.
- cutting in 260 employees in manufacturing and production operations.
No reference was made as to where manufacturing job cuts will be made. Vishay recently acquired the former Newport Wafer Fab in Newport Wales.
UK approves Vishay deal to buy Newport Wafer Fab with restrictions
Vishay said it would incur pre-tax cash charges of approximately $38 million to $42 million, mostly in 3Q24.
Joel Smejkal, CEO of Vishay, said the actions would help the company execute its five-year growth strategy
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UK approves Vishay deal to buy Newport Wafer Fab with restrictions
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Vishay to buy Newport fab for $117m
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