ST-NXP trims staff
Just six months after its establishment, ST-NXP Wireless is cutting its headcount by 500 people and taking a $50million ‘hit’.
According to the company, the move has been made in response to ‘substantial changes’ in global markets and in its customers’ needs.
When ST and NXP merged their operations to form the new venture, the two companies admitted there were ‘synergies’. In the long term, it expects to save $250m in costs.
