STMicroelectronics may cut 2000-3000 jobs in France, Italy - Bloomberg News

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STMicroelectronics may cut 2000-3000 jobs in France, Italy - Bloomberg News - Channel News Asia

Quick Summary:

French-Italian computer chip maker STMicroelctronics is considering cuts of up to 6 per cent of its workforce or 3,000 workers in its French and Italian plants as part of a restructuring program, Bloomberg News reported on Friday, citing anonymous sources.

FILE PHOTO: The logo of electronics and semiconductors manufacturer STMIcroelectronics is seen outside a company building in Montrouge, near Paris, France, July 12, 2022.

A spokesperson for ST could not confirm the figures, but pointed to remarks made at the company's fourth quarter earnings on Thursday when executives said they were opening talks with unions on voluntary headcount reductions as part of a $300 million cost cutting program.