ON Semiconductor Layoffs Job Cut: fires 350 employees, closes Valley Plant

Seems like the doomsday has arrived for the ON Semiconductor employees. ON Semiconductor Systems is a leading worldwide manufacturer of filters, diodes, rectifiers and transistors for electronic device. The news is not good for the employees of ON Semiconductor. Another news of layoffs, another company joining the group of companies to go for layoffs. The firm ON Semiconductor, has decided to go for ON Semiconductor Lay offs or ON Semiconductor Job Cuts.

How many employees may be fired by ON Semiconductor layoffs?
The news is that around 350 employees will be made jobless at ON Semiconductor Valley Fabrication Plant metro Phoenix. This is around 7% of total UK employee strength of ON Semiconductor.

How many employees does ON Semiconductor have?
The total no. of employees at ON Semiconductor is around 1100 workers as of now, in the Phoenix area.

Any news of previous layoffs by the company
Yes. Last month, ON said it planned to lay off 1,500 workers across the company during the year, cut merit increases and require employees to take a two-week unpaid furlough.

Any plants or locations being closed by ON Semiconductor?
Yes. The company will close the Valley Fabrication facility in Phoenix, which makes filters, diodes, rectifiers and transistors for electronic devices, by the end of the first quarter of 2010.

Which locations will be affected by the ON Semiconductor Layoffs?
All jobs affected will be from Valley Fabrication facility in Phoenix.

Which segment of employees will be affected by the ON Semiconductor layoffs
Since an entire plant is set to close, all the employees at the plant are expected to be affected.

How much savings can be made by ON Semiconductor Layoffs?
The plant closure would result in a cash charge of $8 million to $10 million but eventually will result in annual savings of $36 million.

When will the ON Semiconductor layoffs happen
The plant closure will happen by first quarter of 2010.

Any severance package for the affected employees?
No info available.

What are the primary reasons of ON Semiconductor Layoffs
The layoffs, along with other cost cutting measures, are in response to continuing uncertainty in the market.

Any other news about ON Semiconductor?
As per AZCentral News, Several other semiconductor manufacturers with Arizona operations have announced layoffs, salary cuts and furloughs in recent weeks, including Intel Corp., Texas Instruments Inc., Freescale Semiconductor Inc., Microchip Technology Inc. and STMicroelectronics.
ON also said it was accelerating three previously announced plant closures this year - two in Slovakia and one in Idaho - and close a fourth plant. The fourth plant turned out to be the Phoenix facility. The closures are partly the result of two acquisitions ON made in 2008, spokeswoman Anne Spitza said
Let's hope that alternative jobs are available to the affected employees of ON Semiconductor Layoffs Job Cut