STMicroelectronics considers layoffs due to sluggish demand

According to people familiar with the matter, STMicroelectronics is considering reducing its workforce by about 6% through early retirement and natural attrition due to long-term sluggish demand in the industrial and automotive sectors. The number of layoffs is expected to be about 2,000 to 3,000, mainly affecting its business in Italy and France. At present, this decision has not been finalized and the scale of layoffs is still under review.