SemiMedia SemiMedia
  • Breaking News
  • MarketWatch
  • Distribution
  • Manufacturer
  • Video
  • About us
Home › MarketWatch › Microchip to cut jobs amid declining sales
  • 0

Microchip to cut jobs amid declining sales

SemiMediaEdit
March 3, 2025

March 3, 2025 /SemiMedia/ — Microchip Technology plans to lay off employees at its Oregon and Colorado facilities in response to a significant drop in sales.

In a statement on February 28, the company said it is still assessing the number of affected employees, emphasizing that the decision was not made lightly and expressing regret over the impact on its workforce.

Microchip reported a 41.9% year-over-year decline in net sales for its fiscal third quarter of 2025, down to $1.026 billion. Gross margin fell to 54.7%, with operating income at $30.9 million and a net loss of $53.6 million.

CEO and President Steve Sanghi said the company must take decisive actions to address declining revenue and rising inventory, which reached 266 days. Since returning as CEO in November, Sanghi has implemented key initiatives, including restructuring manufacturing operations, refining channel strategies, and strengthening customer engagement. He added that further operational improvements are underway to enhance the company’s competitiveness.

Related

chip industry layoffs chip manufacturing workforce reduction electronic components news Microchip earnings report Microchip financial results Microchip layoffs Microchip Technology restructuring semiconductor company layoffs semiconductor job cuts semiconductor market downturn
Vishay introduces high voltage MLCC series for commercial applications
Previous
Yageo to pursue hostile takeover of Japan’s Shibaura Electronics to expand sensor business
Next

All Comments (0)

Back
No Comment.

Top Post

Fire broke out at AKM factory in Japan
Qualcomm ranked first in the world's top ten IC design companies
Mouser Electronics expands to the Philippines with local customer service center
Analyze the key factors and prospects of electronic components shortage from the perspective of wafer industry
What is the root cause of the decline of the Japanese semiconductor industry?
ST releases price increase notice

Subscribe SemiMedia

Please check your E-mail to confirm the subscribtion.

Related posts

TSMC to begin construction of two US advanced packaging plants in 2028

TSMC to begin construction of two US advanced packaging plants in 2028

July 11, 2025
0
China’s chip demand surge drives Korean 8-inch foundry utilization to new highs

China’s chip demand surge drives Korean 8-inch foundry utilization to new highs

July 11, 2025
0
NXP strengthens China strategy to drive global rollout of system-level semiconductors

NXP strengthens China strategy to drive global rollout of system-level semiconductors

July 11, 2025
0
Intel lays off hundreds in Israel, considers shutting down Fab 28

Intel lays off hundreds in Israel, considers shutting down Fab 28

July 10, 2025
0
Copyright © 2017-2025 SemiMedia. Designed by nicetheme.
  • Please set up your first menu at [Admin -> Appearance -> Menus]
  • electronic components news
  • Electronic components supplier
  • Electronic parts supplier
  • Infineon
  • Electronic component news
  • Renesas
  • Vishay
  • STMicroelectronics
  • NXP
  • TDK

SemiMediaEdit

Administrator