Microchip, closing factory and cutting jobs, backs out of deal for federal expansion subsidies

Microchip, closing factory and cutting jobs, steps back from deal for federal expansion subsidies - OregonLive

Microchip, closing factory and cutting jobs, steps back from deal for federal expansion subsidies  OregonLive Article Attribution | Read More at Article Source The post Microchip, closing factory and cutting jobs, steps back from deal for federal expansion subsidies – OregonLive appeared first on RocketNews.

Microchip, closing factory and cutting jobs, backs out of deal for federal expansion subsidies

The federal funding had been slated to include $72 million to expand Microchip's Gresham factory.

Semiconductor factory to close in Tempe; hundreds of employees impacted

On Monday, Chandler-based Microchip Technology Incorporated announced “manufacturing restructuring plans."

Struggling Chipmaker Microchip Hits Pause On Biden Semiconductor Subsidy - Microchip Technology (NASDAQ:MCHP)

Microchip Technology Inc (NASDAQ:MCHP) halted its application for U.S. semiconductor grants, Bloomberg cited chief Steve Sanghi at a UBS conference Tuesday. The chipmaker was a contender for $162 million in grants from the Chips Act. Microchip stock plunged 29% year-to-date, emerging as one of the dampeners in the Philadelphia Stock Exchange Semiconductor Index. Also Read: Applovin Set To Capitalize On AI Frenzy, Ad Growth, Analyst Cautions On N…

Microchip to shut down its Tempe wafer fab

Microchip Technology lowers its revenue guidance and unveils manufacturing restructuring plans.

Microchip expansion halt is a wake-up call for Chinese automotive MCU makers

Following American chipmaker Microchip Technology's announcement regarding the closure of its Fab 2 wafer factory in Arizona and pause in its application for US semiconductor subsidies, the industry faces a sobering reality. The news particularly impacts Chinese firms actively developing automotive-grade microcontroller units (MCU).