Vishay Intertechnology Implements Restructuring Actions
Vishay Intertechnology, Inc. (VSH)
Last vishay intertechnology, inc. earnings: 2/4 07:00 am
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ir.vishay.com
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Source: GlobeNewswire
MALVERN, Pa., Sept. 24, 2024 (GLOBE NEWSWIRE) -- Vishay Intertechnology, Inc. (NYSE: VSH), one of the world's largest manufacturers of discrete semiconductors and passive components, today announced that it is implementing restructuring actions designed to optimize the Company’s manufacturing footprint and streamline business decision making as it executes its Vishay 3.0 growth strategy. The restructuring actions will be implemented in phases and include: 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 closure of 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 expect
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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