The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Computer, Electronic And Optical Products 26 - Manufacture of computer, electronic and optical products
1,000 jobs Number of planned job losses
Announcement Date
15 June 2005
Employment effect (start)
Foreseen end date
1 July 2006
Description
The manufacturer of electric conductors STMicroelectronics, plans to reduce its worldwide personnel by 6 %: 3,000 employees out of 50,000 people are to be affected in total. The objective is to reduce the firms expenses following disappointing results in 2004 and in the first quarter of 2005. Management announced on 15 June 2005 the suppression of one thousand jobs in France. This is the consequence of the restructuring announced on 16 May 2005, which concern 2,300 jobs in Europe. Information about the suppressions was not given but some jobs had already been transferred since 2005.
Eurofound (2005), STMicroelectronics, Internal restructuring in France, factsheet number 61893, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61893.
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