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June 23, 2011 02:00 pm GMT
ST-Ericsson, a joint venture of STMicroelectronics and Ericsson, this morning announced it will launch a cost savings plan to achieve about $120 million of annualized savings by the end of 2012. The company, which develops a range of mobile platforms and wireless semiconductor solutions, said the plan includes a workforce review that may affect up to 500 employees.ST-Ericsson, which says more than 4 billion phones have been built using its products and technologies to date, is launching the cost-cutting plan due to "recent changes in the business environment and reduced demand for legacy products at certain customers". 
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/ofsgA9is7ZM/
ST-Ericsson Looks To Save $120 Million Per Year, May Scrap 500 Jobs
ST-Ericsson, a joint venture of STMicroelectronics and Ericsson, this morning announced it will launch a cost savings plan to achieve about $120 million of annualized savings by the end of 2012. The company, which develops a range of mobile platforms and wireless semiconductor solutions, said the plan includes a workforce review that may affect up to 500 employees.ST-Ericsson, which says more than 4 billion phones have been built using its products and technologies to date, is launching the cost-cutting plan due to "recent changes in the business environment and reduced demand for legacy products at certain customers". Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/ofsgA9is7ZM/
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