Microchip filed a notice with the state of Arizona on March 3 announcing intent to lay off 330 people from the Tempe facility. When the company announced the closure in December, the plant was not planned to close until September. The closure of the plant will save the company about $90 million annually, company officials said in the filing.

Microchip Technology, the chipmaking firm on Monday said that it will cut approximately 2,000 jobs or about 9% of its workforce, as the chipmaker is restructuring its business to fight against the slowing demand from automakers,

Microchip Technology plans to cut 2,000 jobs, about 9% of its workforce, due to declining automotive demand. The restructuring will cost $30-$40 million, with expected annual savings of $90-$100 million from operations and additional $25 million from employment cuts.