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ST Exits Set-Top Box Chip Biz, Plans Layoffs
Peter Clarke, EETimes
1/27/2016 11:50 AM EST
LONDON—STMicroelectronics NV has said it will stop developing products for the set-top box and home gateway markets and plans to lay off up to 1,400 workers out of its total headcount of more than 43,000.
In 2016 that workforce "re-alignment" is expected to affect about 1,000 employees of which about 150 are based in France. Going forward ST intends to focus on automotive and industrial applications and the Internet of Things including such areas as smart home and smart city applications.
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