Nordic Semiconductor announces layoffs of about 8% and cancels acquisition plans

Nordic Semiconductor, a Norwegian wireless communication chip supplier, announced that it will lay off about 8%, or about 120 people. In addition, the company has also decided to cancel its plan to acquire Novelda, a Norwegian UWB professional chip company. Vegard Wollan, CEO of Nordic Semiconductor, said that this is to achieve Nordic's target business model, but also to strengthen the company's focus on strategic key projects, improve operational efficiency, and optimize operating expenses. According to data from December 2023, Nordic Semiconductor ASA has 1,426 employees.