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| Thursday, 3 December 2009, 15:05 HKT/SGT | |
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Source: ST-Ericsson | |
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GENEVE, CH, Dec 3, 2009 - (ACN Newswire) - ST-Ericsson today announced its proposed plan to further improve financial performance and increase its competitiveness in the market. This plan follows the reorganization announcement made in July this year.
The company is now targeting additional annualized savings of $115 million. These savings are expected to come from reductions in operating expenses and spending, along with an extensive R&D efficiency program. As part of this effort, the company will also conduct a global workforce review which may affect up to an additional 600 employees worldwide.
Specific country impact related to this proposed plan and further details will be provided when employee representatives have been involved where required.
Contact:
Media Relations
Phone: +41 22 930 2733
Email: media.relations@stericsson.com
Investor Relations
Phone: +41 22 929 6973
Email: investor.relations@stericsson.com
Topic: Press release summary
Source: ST-Ericsson
Sectors: Media & Marketing, Wireless, Apps
https://www.acnnewswire.com
From the Asia Corporate News Network
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