Market Chatter: STMicroelectronics Outlines Robotics Plan, Employee Reskilling to Prevent Shutdowns

MT Newswires Live03-13 16:43

STMicroelectronics (STM) outlined strategies to integrate robotics and reskill employees at its legacy semiconductor facilities to avoid being closed down, Reuters reported Friday, citing an interview and a speech from Thomas Morgenstern, head of manufacturing.

During the trade event, Morgenstern demonstrated an automated material-handling system, adding that the company expects to install over 100 humanoids over the next few years, the news outlet reported.

The technology firm is navigating an October 2024 reorganization involving 5,000 proposed staff cuts that has progressed in France while stalling in Italy, Reuters reported.

The incoming machines are slated to manage strenuous, repetitive duties so personnel can shift into specialized roles via a newly launched educational program, the media outlet reported, citing Morgenstern.

A single automated unit could cover up to three operational blocks within a four-shift schedule to enhance productivity without closing any European sites, Reuters quoted the executive as saying.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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