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ST Microelectronics reduce workers’ hours
Workers at ST Microelectronics receive notice of reduced hours, due to lack of orders, from Director of ST Malta Board of Directors and human resource and external relations director, Tonio Portughese.
Europe’s largest semiconductor maker, ST Microelectronics, had experienced reduction in demand as shares were recorded as declining by 11% in July this year.
Due to the lack of work, as proved by weak sales and quarterly results as the demand for digital consumer products and for microcontrollers reduced, Portughese has today sent a notice to all workers that their hours are to be reduced.
ST Microelectronics had already risked downsizing in 2010 due to high utility tariffs jeopardising the jobs of 1,500 workers. The government intervened after warnings received from the multi-national company needing to reduce its operations resulting from a 60% in expenses.
An investment was made to safeguard jobs during the recession including the installation of equipment allowing the Kirkop plant to produce latest technology micro-chips for use in mobile phones and computer games on an international scale.
Prime Minister Lawrence Gonzi had expressed satisfaction in 2010 at the commitment towards Malta with a total of US$1.1 billion invested by ST Microelectronics throughout its 39 years in Malta.
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I worked at ST Electronics for over 4 years during those miserable years under Mintoiff's regime and the situation at ST was such that overtime was a must including Saturdays and Sundays.
I used to beg others to work my overtime in order to have a Sunday or a weekend off.
ST Elect. was one of Labours investments achievement that turns any nats green with envy, there was even a time that ST was looked upon as a thorn in nats governments and there were attempts to damage ST so much so that a construction company was allowed to build a batching plant prompting ST to install a state of the art AC dust free system at millions of euros cost.
Of course gonziPN and Co. will blame the recession and market problems for the latest ST actions but will not blame themselves for the high electricity and water bills that have effected all sectors of industries in Malta.
Shame on successive nats governments who weren't supportive during difficult times for ST.
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Why the other media hs not commented on such a drastic issue?
Is this not a company that produces 50% of our exports thus this is a newsworthy.
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I wonder if the statistics constantly published by the government take into count companies like ST? Maybe they are country all the illegal offshore activities that are going through legal offices associated with ministries and then telling us what a booming business this country is doing on government condoned illegalities.
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If we loose ST we are in deep trouble. Our economy is already going down the drain. What's next?
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Ergajna! Mhux ta' b'xejn li kulhadd jipprova jidhol mall-gvern!
