Layoffs at STMicro: 6,000 workers here to learn their fate soon

MORE than 6,000 employees of European semiconductor giant STMicroelectronics in Singapore will soon learn if they are to be hit by the company’s plans to retrench some 10 per cent of its 45,000-strong global workforce this year.
The company is grappling with dwindling tech spending worldwide.
A company spokesman told The Straits Times yesterday there are more [...]

STMicroelectronics posts loss, cutting 4,500 jobs worldwide

Swiss chip maker STMicroelectronics NV said Tuesday it is cutting about 4,500 jobs worldwide after it posted a fourth-quarter net loss Tuesday, reversing a year-ago profit as revenue slipped amid the global economic turmoil.
The job cuts represent about 9 percent of the Geneva-based company’s work force.
The company posted a loss of $366 million, or 42 [...]