Wolfspeed cuts 180 jobs, slashes capex, targets EBITDA breakeven at $800M revenue

WOLFSPEED, INC.

Reducing headcount by ~180 employees in materials operations at Durham and Siler City.
FY2026 capex target $150-200M; FY2027 capex target $30-50M, down sharply.
Targets adjusted EBITDA breakeven at $800M annual revenue and ~$200M unlevered op. cash flow in FY2026.
Expects one-time Q3 FY2025 litigation settlement charge; confirms prior quarterly outlook.
Received conditional Certificate of Occupancy for Siler City Materials Facility.

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