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 26.2 - Manufacture of computers and peripheral equipment
450 jobs Number of planned job losses
Announcement Date
29 October 2014
Employment effect (start)
30 November 2014
Foreseen end date
30 September 2015
Description
STMicroelectronics has announced a world-wide restructuring plan to cut 450 positions in its digital activities. This is a supplementary measure following a reorganisation plan launched beginning 2014. The group will launch a voluntary departure plan in France to cut 150 positons. According to Electronics Weekly, the job cuts will be compulsory elsewhere and a site in Edinburgh, Scotland, could be affected. The group plans to achieve $100 million in annualised savings upon completion of the restructuring plan during the course of the third quarter of 2015.
Sources
29 October 2014: STMicroelectronics (Press release)
1 November 2014: Electronics weekly
30 October 2014: Usine Digitale
1 November 2014: Ouest-France
Citation
Eurofound (2014), STMicroelectonics, Internal restructuring in World, factsheet number 77823, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77823.
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