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ST-Ericsson will reportedly provide a strategy update to worker representatives tomorrow after...

ST-Ericsson will reportedly provide a strategy update to worker representatives tomorrow after owners Ericsson (ERIC) and STMicroelectronics (STM) failed to find a buyer for the loss-making mobile-chip JV. Ericsson and STM are considering winding down the company and reintegrating staff back into their respective operations, which might save jobs but could weigh on earnings.
Comments (2)
  • Reintegrating jobs sounds like one thing but means another. If you live in Geneva, what use is a job offer in Turin? Ok for a few.
    So it will not weigh on earnings. Severance pay might, however.

     

    But IMO, STMs products are superb and I have faith in this company overall. (I hold stock LTBH).
    17 Mar 2013, 05:43 AM Reply Like
  • that just means they are going to fire people,in 6 months,erriicson is a slow bleed
    17 Mar 2013, 04:36 PM Reply Like
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