Microchip Technology is reducing its workforce across manufacturing and corporate operations by about 2,000 as the embattled chip maker looks to cut costs amid declining sales.

Microchip Technology plans to cut 2,000 jobs, about 9% of its workforce, due to declining automotive demand. The restructuring will cost $30-$40 million, with expected annual savings of $90-$100 million from operations and additional $25 million from employment cuts.

Microchip Technology will lay off 2,000 workers, including at its facilities in Gresham, Colorado and the Philippines, it said in a filing Monday. News broke Friday of the Arizona-based semiconductor manufacturer's layoff plans. Monday's filing revealed the overall number of job cuts, although it did not break them down by location.

The company will also be shutting down operations at its Arizona chip manufacturing facilities in May, several months earlier than previously expected when the planned closures were announced in December

Microchip Technology will announce layoffs of factory workers Monday at its plants in Oregon and Colorado as the chipmaker responds to plunging sales.

On the same day TSMC said it would spend billions and hire thousands more in Arizona, another computer chip company is pulling back and issuing layoffs.