People 05-18-05

STMicroelectronics could cut up to 3,000 jobs outside Asia. About 1,500 jobs would be cut and 1,500 positions would be transferred in Asia. STMicroelectronics intents to cut $90m annual expenses via this new restructuring plan.

Ypso is the name of the new entity formed by the merger of four cable operators in France (Numericable, FT Cable, TDF Cable and Cable de l'Est). Its main shareholders, Cinven and Altice, have decided to restructure and streamline the company in cutting 18% of its 1,200 workforce (or 213 jobs). Some network operations (maintenance, ..) will be outsourced. In addition, 77 new jobs will be opened in network expansion and upgrade.