Mobile semiconductor provider ST-Ericsson announced last week that it will institute new plans designed to save the company $115 million per year. The move is on top of reorganization plans announced this summer by the joint venture between Ericsson Mobile Platforms and ST-NXP Wireless.
These savings are expected to come from reductions in operating expenses and spending, along with an “extensive” research and development “efficiency program.” As part of this effort, the company said it will also conduct a “global workforce review which may affect up to an additional 600 employees worldwide.”
The Geneva, Switzerland-based company added that it would announce specific country’s impacted by the proposed plan after employee representatives have been notified. ST-Ericsson employs approximately 8,000 people worldwide, with more than 85% focused on R&D. Its main employment centers are located in China, Finland, France, Germany, India, Japan, Korea, Netherlands, Norway, Singapore, Sweden, the United Kingdom and the United States.
Ericsson’s handset joint venture with Sony Corp. recently announced plans to reorganize its North American operations, including the shutdown of its headquarters in Research Triangle Park, N.C.
ST-Ericsson to cut up to 600 jobs in attempt for greater efficiency
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