secwatch.observer — SEC 8-K summary
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Issuer:     WOLFSPEED, INC. (WOLF)
CIK:        0000895419
Form:       8-K
Filed at:   2025-03-07T23:59:59+00:00
Accession:  0000895419-25-000032
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 7.01, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/895419/000089541925000032/0000895419-25-000032-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/895419/000089541925000032/wolfspeed-20250306.htm
  HTML page:      https://secwatch.observer/filing/0000895419-25-000032

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer