Semiconductor maker plans 'top-to-bottom' review after Tempe factory closure

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Semiconductor maker plans 'top-to-bottom' review after Tempe factory closure

^{Published on 2024-12-04 14:10:31 - Tim Hastings, N@N}

CEO Steve Sanghi of Microchip Technology plans a review of company operations after the semiconductor maker said it would close its Tempe factory.

Microchip Technology, based in Chandler, Arizona, has announced plans to review its operations in response to the evolving demands of the semiconductor industry. The company aims to enhance efficiency, reduce costs, and better align its resources with long-term strategic goals. This review includes evaluating its global manufacturing footprint, supply chain logistics, and potential investments in new technologies. CEO Ganesh Moorthy emphasized the need for adaptability in a rapidly changing market, driven by factors like electric vehicles, 5G technology, and IoT devices. The review process is expected to take several months, with preliminary findings to be shared with stakeholders in early 2025.

Read the Full USA Today Article at:
[ https://www.usatoday.com/story/money/business/2024/12/04/chandler-based-microchip-technology-plans-review-of-operations/76750469007/ ]

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Tim Hastings

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