Tower Semiconductor plans to temporarily shut down factories due to industry slowdown

Due to the industry slowdown, Hightower Semiconductor plans to close most of its factories in Newport Beach for three weeks, which will result in the temporary furlough of about 700 workers. The Israeli chipmaker produces integrated circuits for the automotive, medical, industrial, aerospace and defense industries. The closure will begin on April 1 and last until the 7th, with additional closures scheduled from July 1 to 7 and October 7 to 13.