Malvern-based Vishay Intertechnology, a manufacturer of discrete semiconductors and passive components, recently announced its is restructuring to streamline business decision making as it prepares to executes a five-year growth strategy.
“As we implement Vishay 3.0, reshaping the Company and preparing for our next phase of growth, we continuously task ourselves with identifying opportunities to best foster a business minded approach to decision making, further enhance our customer first focus and improve cost efficiencies,” Joel Smejkal, Vishay president and CEO, said. “With that in mind, we are undertaking these restructuring actions in part to eliminate barriers to execution and to intensify the sense of urgency. We’re also taking our first step to optimize our global manufacturing footprint, closing smaller single product line facilities and moving toward campus manufacturing structures with multiple product lines.”
Restructuring includes:
Three manufacturing facilities, located in Milwaukee, China and Germany, will close in 2026. The closures will reduce the company’s direct labor force by approximately 365 people, 2 percent of its total manufacturing labor work force.
Approximately 260 employees will receive severance payments as a result of production transfers and changes in manufacturing operations.
Approximately 170 employees, 6 percent of the company’s selling, general, and administrative work force will receive severance payments as the department’s functions are streamlined.