Durham Semiconductor Manufacturer Wolfspeed at Risk of Bankruptcy

Wolfspeed, a semiconductor firm based in Durham, is facing significant financial challenges as it grapples with $575 million in upcoming debt obligations. Executives have revealed that they are considering both in-court and out-of-court options to restructure their capital as the company anticipates lower revenue than expected for the next fiscal year. In response to these difficulties, Wolfspeed has implemented aggressive cost-cutting measures, including reducing its workforce by 25% and downsizing its senior leadership team by 30%. Analysts have expressed concerns about the company’s future, with some downgrading its stock following poor earnings forecasts. The company is also exploring a more comprehensive solution to improve its financial stability amidst these ongoing challenges.

Durham Semiconductor Manufacturer Wolfspeed at Risk of Bankruptcy

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