ON Semiconductor Implements Layoffs to Save Up to $115M

ON Semiconductor Corporation has implemented layoffs affecting approximately 500 employees as part of a strategy to offset costs and save up to $115 million. The layoffs are part of a broader restructuring effort aimed at improving operational efficiency. The company is responding to market pressures and aims to streamline its operations in light of changing demand. The layoffs took effect on October 1, 2023, and are expected to contribute significantly to the company's financial health moving forward. This decision reflects ON Semiconductor's commitment to adapting to the current economic landscape while maintaining a focus on long-term growth.

LayoffTalk has tracked 8 layoff events at ON Semiconductor Corporation since February 2025, with 8 additional events known from news reporting.