Advertisement
Singapore markets closed

  • Straits Times Index

    3,280.10
    -7.65 (-0.23%)
     

  • Nikkei

    37,934.76
    +306.28 (+0.81%)
     

  • Hang Seng

    17,651.15
    +366.61 (+2.12%)
     

  • FTSE 100

    8,139.83
    +60.97 (+0.75%)
     

  • Bitcoin USD

    63,817.59
    -773.33 (-1.20%)
     

  • CMC Crypto 200

    1,327.28
    -69.25 (-4.96%)
     

  • S&P 500

    5,110.48
    +62.06 (+1.23%)
     

  • Dow

    38,302.12
    +216.32 (+0.57%)
     

  • Nasdaq

    15,962.31
    +350.55 (+2.25%)
     

  • Gold

    2,346.70
    +4.20 (+0.18%)
     

  • Crude Oil

    83.82
    +0.25 (+0.30%)
     

  • 10-Yr Bond

    4.6770
    -0.0290 (-0.62%)
     

  • FTSE Bursa Malaysia

    1,575.16
    +5.91 (+0.38%)
     

  • Jakarta Composite Index

    7,036.08
    -119.22 (-1.67%)
     

  • PSE Index

    6,628.75
    +53.87 (+0.82%)
     

French govt says STMicroelectronics must implement new strategy

Reuters

PARIS (Reuters) - French government spokesman Stephane Le Foll said on Wednesday that STMicroelectronics (STM.PA) must implement a new strategy after the Franco-Italian chipmaker announced a plan for 1,400 job cuts.

"We want a new strategy put in place to allow this company to create value and recover," Le Foll said at media briefing following a weekly government cabinet meeting.

STMicro said earlier on Wednesday that it planned to put an end to its TV set-top box activity, eliminating 1,400 jobs globally, including 430 in France.

France and Italy together control STMicro with a combined stake of 27.5 percent.

(Reporting by Jean-Baptiste Vey; Writing by Mathieu Rosemain; Editing by Brian Love)