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The US sensor developer has a base in Cork after it acquired local start-up SensL in 2018, and another one in Limerick.
Onsemi, also known as ON Semiconductor, has initiated a company-wide restructuring plan that will result in 2,400 workers being laid off.
In a regulatory filing yesterday (24 February), the company said the 9pc workforce reduction is part of a cost reduction initiative in order to “align Onsemi’s spending with current business trends”.
The job cuts are expected to be completed during 2025 and charges related to the layoffs are expected to amount to between $50m and $60m. The filing also stated that the reductions would generate savings of up to $115m on an annualised basis once complete.
Based in Arizona, the US company develops sensor technology for the semiconductor industry, having spun out of Motorola’s semiconductor components group in 1999.
The company has more than 26,000 employees, across multiple manufacturing sites, design centres and solution engineering centres around the world.
Among its locations is Limerick, where it set up a design centre in 2008. It also has a strong base in Cork, where it set up shop after acquiring local start-up SensL in 2018.
SensL was involved in EIRSAT-1, Ireland’s first satellite and more recently, Onsemi engineers at its Cork location created cutting-edge space technology that headed to space as part of the historic Proba-3 mission to unlock the secrets of the sun.
As the newly announced restructuring is set to affect all business units within the company, Irish jobs may be at risk. SiliconRepublic.com has reached out to Onsemi for comment.
In June 2024, Onsemi cut its global workforce by about 1,000 employees in order to streamline its operations and reduce costs. At the time, the company also said it would consolidate nine sites and reassign an additional 300 employees or ask them to relocate to another site.
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