Company: COHU
Filing Date: 2025-02-24
Form Type: 8-K
Source: 0001437749-25-004908
Chunk: 0

Company: COHU INC
Filing Date: 2025-02-24
Form: 8-K
Item: Item 7.01
Chunk 0
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Item 7.01.

Regulation FD

Disclosure.

On February 20, 2025, Cohu, Inc. (the “ Company”) filed its Annual Report on Form 10-K with the Securities Exchange Commission (“ SEC”) which disclosed that on February 19, 2025, the Company approved and began executing a strategic restructuring program designed to reposition its organization and improve its cost structure (“2025 Restructuring Program”). As part of the 2025 Restructuring Program the Company plans on consolidating certain operations that are currently based in La Chaux-de-Fonds, Switzerland, and in Kolbermoor, Germany, respectively, into other lower cost locations owned by the Company. As part of the 2025 Restructuring Program, the Company also anticipates making headcount reductions in the U. S. and throughout Asia. Relating to the operations consolidation actions, the Company notified certain impacted employees of the corresponding reduction in force program at those locations which will require negotiation with the microtechnology and Swiss watch trade union and the German labor organization which represent certain of the employees at their respective locations. The 2025 Restructuring Program will reduce headcount, enable the Company to optimize the facilities of its operations, as well as transition certain manufacturing to other lower cost regions. The 2025 Restructuring Program is being implemented as part of a comprehensive review of the Company’s operations with the goal of reducing costs during the extended downturn in the semiconductor test and inspection equipment industry.

As a result of the activities described above, the Company expects to recognize total pretax charges, consisting primarily of severance and other termination benefits, in the range of $6.1 million to $7.2 million, that are within the scope of ASC 420, Exit or Disposal Cost Obligations, and will be paid predominantly in cash. These charges will be recognized throughout fiscal 2025 and all costs will be incurred by the Company’s Semiconductor Test & Inspection segment.

The Company plans to make available in the investor relations section of its website (www. cohu. com) a presentation which includes an overview of the 2025 Restructuring Program. The Company expects to use the presentation in connection with future investor presentations. The Company does not have, and expressly disclaims, any obligation to release publicly any updates or any changes in its expectations or any change in events, conditions, or circumstances on which any forward-looking statement in the presentation is based. A copy of the presentation is attached as Exhibit 99.