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Electronics Production | April 27, 2005

STMicro re-deploy 1000 engineers

To reduce its costs, STMicroelectronics plans to re-deploy 1000 engineers as it presents lower sales for the first quarter this year.
STMicroelectronics also announced a plan to migrate a portion of memory-wafer output to Asia. It continues expense-reduction initiatives, such as the consolidation of certain general and administrative functions as well as the closure of several non-manufacturing sites.

STMicroelectronics earlier said it planned to take a $60 million impairment charge for scaling back its efforts in the DSL modem, cellular-phone chipset, and other non-strategic chip markets. Therefore STMicro is redeploying approximately 1,000 engineers, representing 10 percent of ST's R&D workforce, from non-core programs, including FPGA and third-party design services, and from CPE modem and GSM chipset activities.

STMicroelectronics today reported a loss of the first quarter this year. Read the full report here (STMicroelectronics).
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December 13 2018 1:08 pm V11.10.14-1