STMicroelectronics faces massive staff turnover

Jean-Marc Chery, CEO of STMicroelectronics (ST), revealed that 5,000 employees are expected to leave the company in the next three years, including the 2,800 layoffs announced previously. In addition, about 2,000 employees will leave the company due to natural attrition. STMicroelectronics is discussing cost-cutting plans with stakeholders and authorities.