© Tower Semiconductor
Business |

Tower Semiconductor to halt operations in the US

Tower Semiconductor is reportedly planning to shut down most of its operations in Newport Beach, California for a period of three weeks – which will result in nearly 700 employees taking leave during this time.

According to Data Center Dynamics, citing a WARN report, the furlough periods will take place between April 1-7, July 1-7, and October 7-13 as the company temporarily closes its plant on Jamboree Road during these periods.

Affected workers reportedly include engineering technicians, financial planners, manufacturing workers, and utility operators.

The news comes amid an industry slowdown, in which customers are cutting orders as they clear inventories acquired over the previous two years owing to semiconductor supply restrictions, as pointed out by TrendForce.

The temporary shutdown comes several weeks after Tower Semiconductor was reported to have filed a proposal to the Indian government to build a USD 8 billion chip manufacturing plant in the country. The manufacturer plans to produce 65nm and 40nm chips at the site for for use in automotive and wearable devices.


Load more news
July 23 2024 1:29 am V22.5.13-1