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Electronics Production | December 03, 2009

ST-Ericsson with more restructuring

ST-Ericsson plans to further improve its financial performance and increase its competitiveness in the market. The plan also involves a possible workforce reduction, affecting around 600 global staff.
The company is now targeting additional annualized savings of $115 million. These savings are expected to come from reductions in operating expenses and spending, along with an extensive R&D efficiency program. As part of this effort, the company will also conduct a global workforce review which may affect up to an additional 600 employees worldwide.

Specific country impact related to this proposed plan and further details will be provided when employee representatives have been involved where required.

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