No official word on ST redundancies yet

The senior management of ST Microelectronics this morning confirmed to the management of the Malta plant that the Kirkop plant is to be downsized, but the number of redundancies was not spelt out, informed sources said. The group management is...

The senior management of ST Microelectronics this morning confirmed to the management of the Malta plant that the Kirkop plant is to be downsized, but the number of redundancies was not spelt out, informed sources said.

The group management is briefing the various sections of the company by teleconferencing to explain it plans in the context of a global economic slowdown.

The Sunday Times reported last Sunday that the company had been planning to lay off some 1,200 workers in Malta over the next few years according to plans which had been in the making for the past two years, but the international crisis has precipitated the momentum of the layoffs.

The management of ST Malta is due to meet a GWU delegation later today.

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