Semiconductor supplier ON.US announced plans to cut about 1,000 employees globally and integrate its nine plants in order to streamline its operational structure and reduce operational costs. In addition, approximately 300 employees' job positions will be reassigned. As of December 31, 2023, the company had about 30,000 full-time employees according to its annual report.

ON expects that this round of personnel adjustments will generate personnel-related expenses of US $65 to 80 million for the next two years, and the adjustment is expected to be completed within next year. The part of the saved funds will be reinvested in the business.