ON Semiconductor plans to lay off 1,000 employees and merge factories

ON Semiconductor, a US automotive semiconductor company, recently submitted documents to the SEC, announcing plans to lay off about 1,000 employees and merge nine factories, and 300 employees will need to adjust their positions. This move is to reduce costs, promote the "Fab Right" strategy, optimize the production network, and strengthen the global business layout. It is expected to be completed in 2025, and personnel expenses of US$65-80 million will be incurred during this period.