November 7, 2024 /SemiMedia/ — Nordic Semiconductor has unveiled a strategic restructuring plan that includes an 8% reduction in its global workforce to enhance operational efficiency and focus on critical initiatives. The restructuring will incur costs of approximately $5 million and aligns with the company's goal of maintaining a stable cost base by 2025. These changes are part of a broader strategy to optimize operating expenses while providing support to affected employees during the transition.

The company is also reorganizing into four dedicated business units: short-range, long-range, Wi-Fi, and power management. Each unit will concentrate on specific technologies and establish clear product development roadmaps, aimed at improving market responsiveness and accelerating time to market. Furthermore, Nordic is enhancing collaborations with major partners, such as integrating Google's "Find My Device" network support into its SDK, thereby expanding the utility of its Bluetooth Low Energy devices.

This restructuring is designed to increase returns on R&D investments and foster a more customer-centric approach, allowing Nordic to regain momentum in the market and stabilize revenue. The company remains committed to providing cutting-edge IoT solutions, exemplified by its recent launch of the Controlant Saga Card, which enhances supply chain visibility in healthcare through end-to-end tracking technology.