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© pinonsky / dreamstime.com Components | March 15, 2012

Major restructure likely for ST-Ericsson

ST-Ericsson will likely announce plans for major restructure in the next two weeks. The plan will include global plant closures and layoffs.
According to a report by Reuters, who cites three sources familiar with the situation, ST-Ericsson Chief Executive Didier Lamouche will announce plans to reorganise the company this month. The plans will including cite closures around the world and major layoffs.

Sources said the restructure will be designed to place the company in a position for a takeover by a peer or competitor, creating a rival to Qualcomm Inc.

Sources predicted a takeover could be a reality within the next two years if ST-Ericsson shows signs of a turnaround.

ST-Ericsson, or its parent company's, did not comment on the report.
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