In the midst of the turmoil, STMicroelectronics announced a voluntary redundancy plan in early April: the company wants to eliminate 2,800 jobs worldwide. It remained to be seen how many in France. Management revealed its plans to the unions this Tuesday during a social and economic committee (CSE), reports Ici Touraine. Around 1,000 jobs are affected in France "by end of 2027».
The automotive industry is weighing down STMicroelectronics' results
“The entire project will be implemented on a voluntary basis, with internal and external mobility options by the end of 2027,” explains management. “There will be no forced departures as part of this project.” It is unknown which sites will be affected - the semiconductor manufacturer employs 11,500 people in France, including 7,500 in Isère (in Grenoble and Crolles). STMicroelectronics employs approximately 50,000 people worldwide.
The company has embarked on an "industrial reshaping" following its struggles in the automotive industry. Unlike other semiconductor specialists whose valuations are soaring ahead of the pack as they ride the wave of AI, STMicroelectronics is struggling. Results for last year were weighed down by a struggling automotive business.
Adding to these problems is a governance crisis at the top of the company. Jean-Marc Chéry, the company's CEO, has lost the trust of the Italian government, which owns 27.5% of the company's capital equally with the French state. Rome is demanding the departure of the leader, who has received support from Paris and the supervisory board. A standoff that is not helping find serenity.
Source: Here Touraine
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