STMicroelectronics

Type
Internal restructuring
Country
World
Region
Location of affected unit(s)
Sector
Manufacturing
(26 - 27) Manufacture of electrical, electronic and optical products
26 - Manufacture of computer, electronic and optical products
26 - Manufacture of computer, electronic and optical products
4,500 jobs
Number of planned job losses
Job loss
Announcement Date
27 January 2009
Employment effect (start)
1 February 2009
Foreseen end date
31 December 2009

Description

STMicroelectronics, one of the world's largest semiconductor companies, is to cut 4,500 jobs in 2009. According to the company, the workforce's reduction is mainly due to the global economic crisis. STMicroelectronics is the world's fifth largest semiconductor company with market leadership in many fields. The group has over 45,000 employees worldwide.

Sources

  • 28 January 2009: La Repubblica

Citation

Eurofound (2009), STMicroelectronics, Internal restructuring in World, factsheet number 67972, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67972.