Key TakeawaysShares of Wolfspeed plunged Thursday after the chipmaker posted weaker-than-expected sales and guidance, and announced major job cuts as it moves to simplify its business.The company said it will lay off about 20% of its workforce and shutter two factories.The company took $87.1 million in restructuring charges in its fiscal first quarter of 2025, and expects more than double that amount in the current quarter. Shares of Wolfspeed (WOLF) plunged Thursday after the chipmaker posted weaker-than-e ...