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Going downhill? US LED manufacturer CREE layoffs
According to US sources, a small number of employees of the company in Racine, Wisconsin, in the north-central United States, were responded to in response to the company’s current business conditions, which are measures taken after LED sales are not as good as the company’s expectations. . LED chips and LED lighting are the mainstays of Cree's participation in the past few years. The company also broke the news of the power supply and wireless RF incidents of the US LED manufacturer Cree. However, Cree said that they are very small in layoffs this time. . According to US sources, a small number of employees of the company in Racine, Wisconsin, in the north-central United States, were responded to in response to the company’s current business conditions, which are measures taken after LED sales are not as good as the company’s expectations. . LED chips and LED lighting are the companies that Cree has been involved in over the past few years. The company has also divided the power and wireless RF business Wolfspeed, focusing on GaN Power and RF products. Cree made a short statement but did not disclose more details about the layoffs. The market estimates that the number of layoffs should be quite small, but it reflects the reality that Cree is going to tie the cost. According to LEDinside, Cree currently has more than 2,500 employees at its headquarters in Durham, USA, and its office in Racine, Wisconsin, was used in 2011 to acquire Rudd Lighting for $525 million. The layoffs were also affected by Cree's small staff at its headquarters in Durham, North Carolina. Cree's recent earnings report showed a 2% increase in revenue last quarter to $388 million, which is better than the 10% decline in the previous quarter. Cree's revenue for the company's 2017 fiscal year Q1, revenues fell between $356 million and $378 million, much less than the $425.5 million in the same fiscal year. In the face of industry changes, Cree has already cut production in 2015, and the market development in 2016 is also very hard to sell, but by the competition of Asian supply chain manufacturers, Cree's current situation is more difficult than before.