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

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

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(Reuters) – French-Italian computer chip maker STMicroelctronics is considering cuts of up to 6% 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. 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.

(Reporting by Toby Sterling in Amsterdam, Nathan Vifflin in Gdansk; Editing by Toby Chopra)

Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibility for its content.

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