STMicro to cut 5,000 jobs in next 3 years, says CEO
(Reuters) -STMicroelectronics expects 5,000 staff to leave the company in the next three years, including 2,800 job cuts announced earlier this year, its chief executive said on Wednesday. Around 2,000 employees will leave the Franco-Italian chipmaker due to attrition, bringing the total count with voluntary departures to 5,000, Jean-Marc Chery said at an event in Paris hosted by BNP Paribas. Over the last months, Italy's government has expressed discontent with the firms' chief executive, as STMicro faces a sustained downturn in its key markets, and accused him of insider trading.