Vishay Intertechnology Implements Restructuring Actions; Plans Closure Of Three Manufacturing Facilities, Job Cuts
Portfolio Pulse from Benzinga Newsdesk
Vishay Intertechnology is implementing restructuring actions, including the closure of three manufacturing facilities and job cuts, to streamline operations and achieve cost savings. The company expects to incur pre-tax cash charges of $38 to $42 million and realize annualized cost savings of at least $23 million by the end of 2026.
September 24, 2024 | 11:02 am
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Vishay Intertechnology is undergoing restructuring, including facility closures and job cuts, to achieve significant cost savings. The company anticipates $38-$42 million in pre-tax charges and $23 million in annualized savings by 2026.
The restructuring is a significant move for Vishay Intertechnology, involving closures and job cuts to streamline operations. The expected cost savings and efficiency improvements are likely to positively impact the company's financial performance, potentially boosting investor confidence and stock price in the short term.
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