STMicroelectronics to cut 1,000 jobs in France, Italy talks ongoing
April 30 (Reuters) - STMicroelectronics (STMPA.PA), opens new tab will cut around 1,000 jobs in France, it said on Wednesday, representing more than a third of the 2,800 layoffs planned by its cost-cutting program, and 9% of its France headcount.
The French-Italian chipmaker also said talks with Italian employee representative bodies were ongoing.
The news comes after Reuters reported on Tuesday that Rome aims to limit the Italian layoffs to roughly 1,000 and is pressing for as many in France.
STMicro counts about 11,500 employees in France, and 12,700 in Italy according to its 2024 annual report.
"In France, the Group estimates that around 1,000 people could choose to leave the company on a voluntary basis by 2027." STMicro said in an emailed statement.
STMicro did not indicate the distributions of the cuts, but had previously indicated a reshuffle, opens new tab in its manufacturing capacity in Tours and Crolles sites, either converting legacy wafer production to other activities or relocating them to different STMicro sites, notably to Singapore.
The company, in which the Italian and French governments own a combined 27.5% share through a holding company, employs 50,000 people worldwide and has been facing a sustained downturn in its key automotive and industrial markets.
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