• Education
    • Higher Education
    • Scholarships & Grants
    • Online Learning
    • School Reforms
    • Research & Innovation
  • Lifestyle
    • Travel
    • Food & Drink
    • Fashion & Beauty
    • Home & Living
    • Relationships & Family
  • Technology & Startups
    • Software & Apps
    • Startup Success Stories
    • Startups & Innovations
    • Tech Regulations
    • Venture Capital
    • Artificial Intelligence
    • Cybersecurity
    • Emerging Technologies
    • Gadgets & Devices
    • Industry Analysis
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy
Today Headline
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
Today Headline
No Result
View All Result
Home Technology & Startups

Microchip Says It Will Shut Arizona Plant, Updates Outlook

December 2, 2024
in Technology & Startups
Reading Time: 2 mins read
A A
0
1
SHARES
3
VIEWS
Share on FacebookShare on Twitter


(Bloomberg) — Microchip Technology Inc., a maker of chips for cars, consumer devices and other products, said it would close a plant in Tempe, Arizona, affecting about 500 employees.

Most Read from Bloomberg

The company also said that orders have been slower than anticipated and it was revising the December quarter’s outlook to near the low end of its original forecast of about $1.03 billion.

Steve Sanghi, board chairman and interim chief executive officer, said Monday in a statement that the Tempe plant would be shut down in the September 2025 quarter because “inventory levels are high and the company has ample capacity in place and the ability to expand capacity in the other facilities in the future.”

Microchip, based in Chandler, Arizona, has been mired in a deep sales slump, with revenue projected to plunge 40% this year. Sanghi, a company veteran who had previously served as CEO, returned last month to the top post, replacing Ganesh Moorthy.

“I want to clarify for investors that I plan to stay in this role, even though the title is interim, for as long as it is necessary, so there is no definitive timeline for my successor,” Sanghi said in the statement.

Most Read from Bloomberg Businessweek

©2024 Bloomberg L.P.

Tags: ArizonaBloombergboard chairmanChandlerconsumer devicesMicrochip Technology Inc.Steve SanghiTempe
Previous Post

Elon Musk’s record Tesla pay package rejected again by judge todayheadline

Next Post

Guinea soccer stadium crush kills 56 people

Related Posts

Oil prices rise as US-China trade talks soothe market jitters

May 12, 2025
0

Eli Lilly’s Zepbound outperforms Novo Nordisk’s Wegovy for weight loss in trial

May 11, 2025
6
Next Post
Guinea soccer stadium crush kills 56 people

Guinea soccer stadium crush kills 56 people

  • Trending
  • Comments
  • Latest
Family calls for change after B.C. nurse dies by suicide after attacks on the job

Family calls for change after B.C. nurse dies by suicide after attacks on the job

April 2, 2025
Pioneering 3D printing project shares successes

Product reduces TPH levels to non-hazardous status

November 27, 2024

Hospital Mergers Fail to Deliver Better Care or Lower Costs, Study Finds todayheadline

December 31, 2024

Police ID man who died after Corso Italia fight

December 23, 2024
Harris tells supporters 'never give up' and urges peaceful transfer of power

Harris tells supporters ‘never give up’ and urges peaceful transfer of power

0
Des Moines Man Accused Of Shooting Ex-Girlfriend's Mother

Des Moines Man Accused Of Shooting Ex-Girlfriend’s Mother

0

Trump ‘looks forward’ to White House meeting with Biden

0
Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

0

Oil prices rise as US-China trade talks soothe market jitters

May 12, 2025
Hamas to release US-Israeli captive as part of direct Gaza talks

Hamas to release US-Israeli captive as part of direct Gaza talks

May 12, 2025
European soccer review: Woeful Man Utd, Spurs don't deserve UCL

European soccer review: Woeful Man Utd, Spurs don’t deserve UCL

May 12, 2025
Man pointing to dollar bills in his hand

2 Affordable Dividend Growth Stocks to Buy And Hold Forever todayheadline

May 12, 2025

Recent News

Oil prices rise as US-China trade talks soothe market jitters

May 12, 2025
0
Hamas to release US-Israeli captive as part of direct Gaza talks

Hamas to release US-Israeli captive as part of direct Gaza talks

May 12, 2025
2
European soccer review: Woeful Man Utd, Spurs don't deserve UCL

European soccer review: Woeful Man Utd, Spurs don’t deserve UCL

May 12, 2025
4
Man pointing to dollar bills in his hand

2 Affordable Dividend Growth Stocks to Buy And Hold Forever todayheadline

May 12, 2025
4

TodayHeadline is a dynamic news website dedicated to delivering up-to-date and comprehensive news coverage from around the globe.

Follow Us

Browse by Category

  • Africa
  • Asia
  • Basketball
  • Business & Finance
  • Climate Change
  • Crime & Justice
  • Economic Policies
  • Elections
  • Entertainment
  • Entrepreneurship
  • Environmental Policies
  • Europe
  • Football
  • Gadgets & Devices
  • Health
  • Medical Research
  • Mental Health
  • Middle East
  • Motorsport
  • Olympics
  • Politics
  • Public Health
  • Relationships & Family
  • Science & Environment
  • Software & Apps
  • Space Exploration
  • Sports
  • Stock Market
  • Technology & Startups
  • Tennis
  • Travel
  • Uncategorized
  • Us & Canada
  • Wildlife & Conservation
  • World News

Recent News

Oil prices rise as US-China trade talks soothe market jitters

May 12, 2025
Hamas to release US-Israeli captive as part of direct Gaza talks

Hamas to release US-Israeli captive as part of direct Gaza talks

May 12, 2025
  • Education
  • Lifestyle
  • Technology & Startups
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy

© 2024 Todayheadline.co

Welcome Back!

OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Business & Finance
  • Corporate News
  • Economic Policies
  • Entrepreneurship
  • Market Trends
  • Crime & Justice
  • Court Cases
  • Criminal Investigations
  • Cybercrime
  • Legal Reforms
  • Policing
  • Education
  • Higher Education
  • Online Learning
  • Entertainment
  • Awards & Festivals
  • Celebrity News
  • Movies
  • Music
  • Health
  • Fitness & Nutrition
  • Medical Breakthroughs
  • Mental Health
  • Pandemic Updates
  • Lifestyle
  • Fashion & Beauty
  • Food & Drink
  • Home & Living
  • Politics
  • Elections
  • Government Policies
  • International Relations
  • Legislative News
  • Political Parties
  • Africa
  • Asia
  • Europe
  • Middle East
  • Artificial Intelligence
  • Cybersecurity
  • Emerging Technologies
  • Gadgets & Devices
  • Industry Analysis
  • Basketball
  • Football
  • Motorsport
  • Olympics
  • Climate Change
  • Environmental Policies
  • Medical Research
  • Science & Environment
  • Space Exploration
  • Wildlife & Conservation
  • Sports
  • Tennis
  • Technology & Startups
  • Software & Apps
  • Startup Success Stories
  • Startups & Innovations
  • Tech Regulations
  • Venture Capital
  • Uncategorized
  • World News
  • Us & Canada
  • Public Health
  • Relationships & Family
  • Travel
  • Research & Innovation
  • Scholarships & Grants
  • School Reforms
  • Stock Market
  • TV & Streaming
  • Advertise with Us
  • Privacy & Policy
  • About us
  • Contact

© 2024 Todayheadline.co