STMicroelectronics CEO says 5,000 jobs to be cut in next 3 years

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STMicroelectronics expects 5,000 staff to leave the company in the next three years, including 2,800 job cuts announced earlier this year, its chief executive said on Wednesday.”At the end, it’s 5,000 people that will leave the company,” he said.Chery said that discussions with stakeholders and authorities over implementation of its cost cutting program were on track.

In an apparent reference to Italy, he said: “I do think that one country specifically is harder. And most likely, okay, could delay a little bit our speed of implementation”, Chery said.



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STMicroelectronics CEO says 5,000 jobs to be cut in next 3 years


STMicroelectronics expects 5,000 staff to leave the company in the next three years, including 2,800 job cuts announced earlier this year, its chief executive said on Wednesday.”At the end, it’s 5,000 people that will leave the company,” he said.Chery said that discussions with stakeholders and authorities over implementation of its cost cutting program were on track.

In an apparent reference to Italy, he said: “I do think that one country specifically is harder. And most likely, okay, could delay a little bit our speed of implementation”, Chery said.



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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