ST-Ericsson Said to Plan Strategy Update for Workers Monday
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STMicroelectronics NV and Ericsson AB, having failed to find a buyer for ST-Ericsson, have summoned employees at the unprofitable chip venture for a strategy update tomorrow following a March 15 board meeting, according to two people familiar with the matter.
ST-Ericsson’s worker representatives in France and Italy have been invited to conference calls scheduled for early tomorrow, said the people, asking not to be identified because the plans are private. In France, companies are required by law to inform works councils of decisions that could affect jobs early in the process of any restructuring.