onsemi to consolidate nine sites, cut ~1,000 jobs under 'Fab Right' strategy

ON SEMICONDUCTOR CORP

Reducing global workforce by ~1,000 employees; reassigning/relocating ~300 more.
Estimated $65M-$80M in employment-related charges, majority in 2024.
Consolidating nine sites as part of manufacturing network optimization.
Process expected to complete by 2025, subject to local regulations.
Company to reinvest substantial savings into workforce and business initiatives.

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