Vishay announces restructuring with $38 million to $42 million in pre-tax charges
Vishay Intertechnology said it is carrying out restructuring actions in phases to optimize its manufacturing footprint and streamline decision making under its Vishay 3.0 strategy. The company expects pre-tax cash charges of $38 million to $42 million, mostly in 3Q 2024, and at least $23 million in annualized cost savings once the program is fully implemented by the end of 2026.
Key points
- Expected pre-tax cash charges of $38 million to $42 million, primarily severance, mostly in 3Q 2024
- Three manufacturing facilities to close, including a Diodes back-end facility in Shanghai, China, by the end of 2026
- Severance for about 170 SG&A employees and about 260 employees in manufacturing changes, with about 365 direct labor positions reduced
- Annualized cost savings of at least $23 million by the end of 2026, with about $9 million immediate and about $12 million starting 1Q 2025
The filing
Written by AI on Nov 8, 2026, 1:01 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 24, 2024.
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