Extracted from this filing and checked against the source text.
Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.9
MICROCHIP TECHNOLOGY INC announced a restructuring with charges of approximately $45 million affecting long-term supply agreements with certain wafer foundries.
- Type
- restructuring
- Charge
- approximately $45 million
- Affected area
- long-term supply agreements with certain wafer foundries
Exact text from the filing
The Company also expects to incur charges of approximately $45 million in connection with the cancellation or modification of long-term supply agreements that the Company has with certain wafer foundries.
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Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.9
MICROCHIP TECHNOLOGY INC announced a restructuring with charges of between $30 million and $40 million affecting Fab 4 facility in Gresham, Oregon, Fab 5 facility in Colorado Springs, Colorado, backend manufacturing facility in the Philippines, various business units and support groups (approximately 2,000 employees).
- Type
- restructuring
- Charge
- between $30 million and $40 million
- Affected area
- Fab 4 facility in Gresham, Oregon, Fab 5 facility in Colorado Springs, Colorado, backend manufacturing facility in the Philippines, various business units and support groups
- Headcount
- approximately 2,000 employees
Exact text from the filing
business units and support groups. The total headcount reductions from these actions will be approximately 2,000 employees and the Company estimates that it will incur between $30 million and $40 million of related costs, consisting of cash severance, other severance benefits and other related restructuring costs. The Company expects these actions to be
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