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Wolfspeed laying off 20% of its workforce, with the most in Durham

Summary by Carolina Journal
Durham-based company Wolfspeed announced Wednesday that it is reducing its workforce by 20%, with most of the layoffs coming from its Durham location. The announcement comes less than a month after the Biden Administration announced plans to spend $750 million for a manufacturing facility in Siler City, NC. In a report to investors about its earnings for the first quarter of 2025, the company announced a loss of $282.2 million in its first fisca…
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