STMicroelectronics maintains 2030 targets, cost savings to boost 2027-2028

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STMicroelectronics maintains 2030 targets, cost savings to boost 2027-2028 - Channel News Asia

Quick Summary:

STMicroelectronics (ST) on Wednesday stood by the 2030 financial targets laid out in 2022, despite three outlook cuts this year amid a slump in markets for the industrial and automotive chips it makes.

Investors and analysts will be looking to get some details on the plan during Wednesday's event.

ST had first flagged the launch of a company-wide program to reshape its manufacturing footprint with its third-quarter earnings, but did not elaborate where those savings would come from.