ST-Ericsson To Cut 1,700 Jobs

Posted on April 23, 2012 at 14:21 PM EDT

STMicroelectronics' (NYSE: STM) and Ericsson's (Nasdaq: ERIC) joint venture ST-Ericsson will eliminate 1,700 jobs and announced a new strategic direction. Shares of STMicroelectronics dropped 70 cents to $5.88 while Ericsson stock lost 34 cents to $9.23.

Related Stocks:

Ericsson Telephone Company STMicroelectronics N.V. ADS

Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Telekurs USA
Postage Rates