MAGNACHIP SEMICONDUCTOR Corp
For the period ended Jun 30, 2025. Filed Aug 5, 2025.
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Jun 30, 2025 · Filed Aug 5, 2025
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Item 408. Voluntary Resignation Program
As of August 1, 2025, we announced a voluntary resignation program (the “Program”) as part of our cost reduction initiatives to align our spending level with a strategy to become a pure-play power company. The shutdown of the Display business made some shared function headcount redundant because such functions had supported both the Display and Power businesses. Due to the voluntary nature of the Program, we are unable to provide an exact amount of the related financial impact at this time. However, the Program is expected to result in estimated annual savings in operating expenses of $2 to $3 million with the payback period of 1.5 years.
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