Nordic Semiconductor to reduce headcount
Nordic Semiconductor is initiating a “strategic resource realignment” that includes a global workforce reduction of approximately 8% of the company’s total workforce.
“We have made the difficult decision to reduce the size of our workforce, and we are also re-balancing and re-organizing our teams, as part of our broader strategy to deliver Nordic’s target business model,” says Nordic Semiconductor CEO Vegard Wollan, in a press release.
According to Wollan, this re-balancing effort is intended to concentrate efforts on strategically critical programs, improve operational performance, and manage operating expenses more effectively.
The company expects to incur restructuring costs amounting to approximately USD 5 million in its fourth-quarter and full-year 2024 financial results. However, Nordic stated that these projected savings are already factored into its commitment to maintaining a flat cost base for 2025 compared to 2024.
Nordic Semiconductor emphasized that the organizational adjustments will be carried out in cooperation with employee organizations in various countries.
“We are committed to supporting our outgoing colleagues and thank these employees for their contributions to the development of Nordic,” Wollan concludes.
