ST Plans Large-scale Layoffs!

On April 11, ST Microelectronics announced a plan to "reshape manufacturing layout and adjust global cost base". According to the plan, including the previously disclosed cost base adjustment and manufacturing layout reshaping, ST Microelectronics expects to lead to voluntary resignation of up to 2,800 employees worldwide within three years.

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It is reported that STMicroelectronics plans to focus on investing in advanced manufacturing infrastructure and technology research and development for 300mm silicon wafers and 200mm silicon carbide in fiscal years 2025, 2026 and 2027. The company also plans to continue investing in upgrading the technologies used in operations and deploying more artificial intelligence and automation technologies.

"The manufacturing reshaping announced today will leverage our strategic assets in Europe, future-proof our Integrated Device Manufacturer (IDM) model and enhance our ability to innovate faster, benefiting all stakeholders," said Jean-Marc Chery, President and CEO of STMicroelectronics.

Focused on advanced manufacturing infrastructure and mainstream technologies, we will continue to fully leverage all existing sites and redefine the mission of some to support their long-term success. We are committed to managing this program responsibly, in line with our long-held values and through a purely voluntary approach. Technology R&D, design and volume production activities in Italy and France will continue to be at the core of our global operations and will be strengthened by planned investments in mainstream technologies."