PHOENIX--On Semiconductor Corp. here today (April 5) announced it will cut $100 million from its annual manufacturing expenses with an accelerated consolidation plan that eliminates 550 jobs, or roughly less than 5% of its total worldwide workforce.
The supplier of discrete transistors, logic and analog chips said it would also trim an additional 80 jobs from manufacturing position through attrition.
On Semiconductor--a spin-off company from Motorola Inc.--said it is aiming to streamline its production processes and reducing redundancies in global manufacturing. The cost cuts come after the company lowered its estimates for revenues and announced plans to accelerate the transfer of chip manufacturing to lower cost regions (see March 8 story).
