TITLE

ST slashes 4500 jobs, halves capex in $700M savings plan

AUTHOR(S)
Deffree, Suzanne
PUB. DATE
February 2009
SOURCE
Electronic News (10616624);2/2/2009, Vol. 55 Issue 5, p3
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the elimination of 4,500 jobs in STMicroelectronics Inc. and will divide its capital expenditures in $700 million savings plan. These moves resulted to the 2008 fourth quarter (Q4) economic activity marking a decrease on the global economic downturn, with December quarter revenues of $2.28 billion declined by 15.6% sequentially and 17% year-over-year. Moreover, the company plans for Q1 revenues between $1.5 billion to $1.85 billion to reduce inventory levels.
ACCESSION #
36488418

 

Related Articles

  • ST Layoffs to Reach 3,000 in Expanded Restructuring.  // Electronic News;5/23/2005, Vol. 51 Issue 21, pN.PAG 

    Reports on the job cuts at Geneva, Switzerland-based STMicroelectronics as of May 23, 2005. Purpose of the job cuts; Strategy of the company to improve its competitiveness and financial performance; Estimate on the amount to be saved by the company following completion of the plan.

  • ST Elaborates on Restructuring, Plans 150mm Fab Lines Upgrade.  // Electronic News;6/13/2005, Vol. 51 Issue 24, pN.PAG 

    Reports on the restructuring efforts of European chip manufacturer STMicroelectronics in 2005. Example of the company's cost cutting initiatives; Potential sale of its flash business; Modernization of its European industrial sites.

  • Analyst halves chip market forecast as firms report softening conditions. Manners, David // Electronics Weekly;8/1/2007, Issue 2299, p5 

    The article informs that STMicroelectronics NV cut its April 2007 forecast of 4-5 per cent growth to "slightly less than 2 per cent" and Future Horizons Inc. cut its April 2007 forecast of 11 per cent growth to 6 per cent for the semiconductor market. Malcolm Penn, chief executive officer (CEO)...

  • Dual 12-bit DAC fits in So-8 package.  // Electronic Design;06/23/97 Supplement, Vol. 45 Issue 13, p86 

    Features the LTC1446 by SGS-Thomson Microelectronics Incorporated, which is targeted for trimming functions, portable and battery-powered equipment and industrial control systems. What the LTC1446 consists of; Compatibility of the three-wire casadable serial interface with SPI and Microwire...

  • SGS pushes Taos multimedia OS.  // Electronic News;11/29/93, Vol. 39 Issue 1991, p24 

    Reports on SGS-Thomson's launching of the Multimedia Multiprocessing Platform Group (MMPG) with European companies. Purpose; Ownership of commercial rights over the Taos operating system.

  • Microcontroller switches 5-A, 60-V current pulses. Goodenough, Frank // Electronic Design;10/14/93, Vol. 41 Issue 21, p71 

    Describes the `Smart Power' technology developed by SGS-Thomson Microelectronics. Capabilities of the BCD3; Layout of the H081; Analog/power-control section of the H081. INSET: BCD process evolution..

  • SGS-Thomson plans new fabs. P.D. // Solid State Technology;Feb96, Vol. 39 Issue 2, p49 

    Reports that SGS-Thomson will begin work on two 200-millimeter wafer plants in two different countries.

  • Putting the finger on security. Sciannamea, Mike // Electronic Design;10/23/97, Vol. 45 Issue 23, p80L 

    Features a working prototype of a security microchip from SGS-Thomson Microelectronics (STM) which registers the pattern of a human finger tip, enabling the detection of variations in electrical currents. Information on how photo-ID cards and electronic passkeys can be duplicated; Description...

  • SGS-Thomson updates EEpROMs.  // Electronic News (10616624);1/23/95, Vol. 41 Issue 2049, p60 

    Reports on SGS-Thomson Microelectronics NV's introduction of a family of high density serial EEpROMS.

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics