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    Home > Finance > STMicroelectronics may cut 2,000-3,000 jobs in France, Italy - Bloomberg News
    Finance

    STMicroelectronics may cut 2,000-3,000 jobs in France, Italy - Bloomberg News

    Published by Global Banking & Finance Review®

    Posted on January 31, 2025

    1 min read

    Last updated: January 26, 2026

    An image illustrating the potential job cuts at STMicroelectronics, a key player in the semiconductor industry, highlighting the company's restructuring efforts in France and Italy amid market downturns.
    STMicroelectronics job cuts in France and Italy, impacting workforce - Global Banking & Finance Review
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    Tags:job creationcorporate strategyfinancial managementemployment opportunities

    Quick Summary

    STMicroelectronics may cut up to 3,000 jobs in France and Italy as part of a $300 million restructuring plan, focusing on advanced facilities.

    STMicroelectronics Considers Job Cuts of Up to 3,000 in Europe

    (Reuters) -French-Italian computer chip maker STMicroelectronics is considering cuts of up to 6% of its workforce or 3,000 workers in its French and Italian plants as part of a restructuring program, Bloomberg News reported on Friday, citing anonymous sources. A spokesperson for ST could not confirm the figures, but pointed to remarks CEO Jean-Marc Chery made at the company's fourth quarter earnings on Thursday, that the company would open talks with unions on voluntary headcount reductions as part of a $300 million cost cutting program.

    The company, in which the French and Italian governments hold a 27.5% share, employs 50,000 people worldwide and has been facing a sustained downturn in its key markets, automotive and industrial.

    ST first announced its restructuring plans in November, saying it will shift production away from older plants and smaller wafer sizes to focus on more advanced facilities in Crolles, France and Agrate, Italy.

    (Reporting by Toby Sterling in Amsterdam, Nathan Vifflin in Gdansk; Editing by Toby Chopra and Philippa Fletcher)

    Key Takeaways

    • •STMicroelectronics may cut up to 3,000 jobs in France and Italy.
    • •The cuts are part of a $300 million cost-cutting program.
    • •The company plans to focus on advanced facilities in Crolles and Agrate.
    • •STMicroelectronics employs 50,000 people worldwide.
    • •The restructuring aims to address downturns in automotive and industrial markets.

    Frequently Asked Questions about STMicroelectronics may cut 2,000-3,000 jobs in France, Italy - Bloomberg News

    1How many jobs is STMicroelectronics considering cutting?

    STMicroelectronics is considering cuts of up to 3,000 workers, which is about 6% of its workforce.

    2What is the reason behind the job cuts?

    The company is facing a sustained downturn in its key markets, particularly in the automotive and industrial sectors.

    3When did STMicroelectronics first announce its restructuring plans?

    STMicroelectronics first announced its restructuring plans in November.

    4What changes is STMicroelectronics planning in its production?

    The company plans to shift production away from older plants and smaller wafer sizes to focus on more advanced facilities.

    5What percentage of STMicroelectronics is owned by the French and Italian governments?

    The French and Italian governments hold a 27.5% share in STMicroelectronics.

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