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STMicroelectronics Considers Job Cuts in France and Italy, Amid $300 Million Cost Cutting Program

Feb 02, 2025

Contract Type

partnership

GenevaManufacturingEnergyOil And GasRenewable Energy

Description

STMicroelectronics is considering cuts of up to 6% of its workforce or 3,000 workers in its French and Italian plants as part of a restructuring programme. The company announced an early retirement plan to the European Works Council, with only one position to be reopened for every three people taking early retirement. Additionally, a 2 billion euros grant from Rome to build a microchip plant in the country that would create 3,000 new jobs was approved for STM.

Company Information

Company

STMicroelectronics

Location

Geneva, Geneva, Switzerland

About

STMicroelectronics is a global semiconductor leader delivering intelligent and energy-efficient products and solutions that power the electronics at the heart of everyday life. It has operations in over 80 countries and offers a wide range of products and solutions for various industry segments.