Vishay Intertechnology to close manufacturing facilities, cut jobs as part of restructuring [Seeking Alpha]
Vishay Intertechnology, Inc. (VSH)
Last vishay intertechnology, inc. earnings: 2/4 07:00 am
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Source: Seeking Alpha
Vishay Intertechnology's ( VSH ) selling, general, and administrative functions will be streamlined beginning immediately and through 4Q 2025, resulting in severance payments to approximately 170 employees, or 6% of the SG&A workforce. The company would also close three manufacturing facilities. A Diodes segment back-end facility in Shanghai, China is expected to be closed by the end of 2026 with production transfers completed in phases beginning 4Q 2025. In addition, two small facilities in the Resistors segment in Fichtelberg, Germany, and in Milwaukee, Wisconsin, are expected to be closed in 2026, Vishay ( VSH ) said in a statement, adding, as a result of these facility closures, the company will reduce its direct labor by about 365 employees, or 2% of its total manufacturing labor workforce. Various changes in manufacturing operations and production transfers, which will result in severance payments to approximately 260 employees. The company expects to incur pre-tax cash
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VSH
News
- Vishay Intertechnology Implements Restructuring ActionsGlobeNewswire
- Vishay Intertechnology: A Bet On The Future Comes With Risks [Seeking Alpha]Seeking Alpha
- Is Now The Time To Look At Buying Vishay Intertechnology, Inc. (NYSE:VSH)? [Yahoo! Finance]Yahoo! Finance
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VSH
Earnings
- 8/7/24 - Beat
VSH
Sec Filings
- 9/24/24 - Form 8-K
- 9/10/24 - Form 8-K
- 8/15/24 - Form 8-K
- VSH's page on the SEC website