ST-Ericsson aims at improved financial performance, competitive cost
structure and accelerated portf
(Thomson Reuters ONE) - Geneva, Switzerland, December 3, 2009 - ST-Ericsson today announcedits proposed plan to further improve financial performance andincrease its competitiveness in the market. This plan follows thereorganization announcement made in July this year.The company is now targeting additional annualized savings of $115million. These savings are expected to come from reductions inoperating expenses and spending, along with an extensive R&Defficiency program. As part of this effort, the company will alsoconduct a global workforce review which may affect up to anadditional 600 employees worldwide.Specific country impact related to this proposed plan and furtherdetails will be provided when employee representatives have beeninvolved where required.About ST-EricssonST-Ericsson is a world leader in developing and delivering a completeportfolio of innovative mobile platforms and cutting-edge wirelesssemiconductor solutions across the broad spectrum of mobiletechnologies. The company is a leading supplier to the top handsetmanufacturers and ST-Ericsson's products and technologies enable morethan half of all phones in use today. The company generatedpro-forma sales of about USD 3.6 billion in 2008. ST-Ericsson wasestablished as a 50/50 joint venture by STMicroelectronics (NYSE:STM)and Ericsson (NASDAQ:ERIC) in February 2009, with headquarters inGeneva, Switzerland.More information on ST-Ericsson is available at www.stericsson.com.FOR FURTHER INFORMATION, PLEASE CONTACT:Media RelationsPhone: +41 22 930 2733Email: media.relations(at)stericsson.comInvestor RelationsPhone: +41 22 929 6973Email: investor.relations(at)stericsson.comhttp://hugin.info/1061/R/1358866/331018.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 03.12.2009 - 07:30 Uhr
Sprache: Deutsch
News-ID 9185
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