Lates News

Jean-Marc Chery, CEO of STMicroelectronics, said on Wednesday that the company expects 5,000 employees to leave in the next three years, including the 2,800 job cuts announced earlier this year. Chery said at an event held at a bank in Paris, France, that around 2,000 employees will leave through natural attrition, and the total number of voluntary departures will reach 5,000. STMicroelectronics has 50,000 employees worldwide, and the Italian and French governments collectively own 27.5% of the company through a holding company. Last November, STMicroelectronics detailed its cost-cutting plan to save hundreds of millions of dollars by 2027 through natural attrition and early retirement.