Vishay Intertechnology (VSH) Announces Restructuring
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Vishay Intertechnology Implements Restructuring Actions
September 24, 2024 7:00 AM UTCMALVERN, 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 Companys 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... More