Report: Industry downturn impacts performance, STMicroelectronics plans to lay off up to 3,000 employees

According to informed sources, STMicroelectronics is considering cutting its workforce by up to about 6% through early retirement and natural attrition, as the chip manufacturer faces a continued downturn in demand from the industrial and automotive sectors. The layoff plan is expected to be announced as early as next month, with the number of layoffs under discussion ranging from 2,000 to 3,000, affecting operations in both Italy and France. This is not a final decision, and the scale of the reductions is still being assessed. Informed sources indicate that the Italian government is seeking to limit the impact of the restructuring on employees in the country. The Italian government and France jointly hold 27.5% of the company's shares. (Bloomberg)