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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:
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