<ul><li>Microchip Technology is set to reduce its workforce by 2,000 employees, approximately nine percent of its total staff.</li><li>The job cuts aim to address weakening demand from the automotive sector.</li><li>The company expects costs of $30-40 million for expenses related to the layoffs, which will be completed by the end of the June quarter.</li><li>In addition to the job cuts, Microchip Technology is accelerating the shutdown of its chip-manufacturing facilities in Arizona.</li></ul>

Microchip Technology announces major job cuts

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