| Submit your comments on this article |
| Europe |
| Thousands Of STMicro Layoffs Near After Gloom Outlook & Chip Slump |
| 2025-01-31 |
| [ZeroHedge] A day after STMicroelectronics—one of Europe's largest chipmakers—said that 2024 was one of the worst years for the industry and forecasted first-quarter revenue below the Bloomberg Consensus estimates, the company is reportedly planning to cut thousands of jobs. Wonder what the exec 'departure bonus' is? Bloomberg cited sources close to the Franco-Italian chipmaker that say about 6% of the workforce could be slashed through early retirements and attrition amid a prolonged downturn in auto and industrial sectors. Hey DOGE! Here's more from the report: The job cuts under discussion, which could be announced as soon as next month, are in the range of 2,000 to 3,000 workers and will affect its operations in both Italy and France, according to the people, who asked not to be identified because the information isn't public. The decision isn't final and the scale of the reductions is still under review, the people added. |
| Posted by:Skidmark |