Job Market Monitor
ST-Ericsson
France – Layoffs – Vivendi, STMicro Revamp Face Hollande’s Scrutiny
Vivendi SA (VIV) and STMicroelectronics SA (STM), each considering a reorganization to boost their competitiveness, face a hurdle as French President Francois Hollande struggles to keep an election pledge on job creation. Industry Minister Arnaud Montebourg is today hosting STMicroelectronics Chairman Didier Lombard at Bercy, the sprawling 1980’s government complex in eastern Paris. The meeting … Continue reading
ST-Ericsson will cut 1,700 jobs
Chip maker ST-Ericsson will cut 1,700 jobs and shift a key part of its product to parent STMicro, forcing the French co-owner to focus more on its loss-making and volatile wireless business. ST-Ericsson said it would partner with STMicro to develop application processors, after failing to cut a deal with one of four other companies. … Continue reading
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