Author: Juby Babu
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Onsemi cuts jobs, sees weak 4th quarter on slowing EV demand
By Juby Babu and Stephen Nellis (Reuters) – Chipmaker Onsemi forecast a tepid fourth quarter and cut about 900 jobs, sparking fears that weak electric vehicle (EV) demand has begun to hurt orders for its chips from the auto sector and sending its shares tumbling 18.3% on Monday. The company, whose clients include European automaker…