140-170 sacked Micron researchers to start re-employment at ST in Q1 2015

ST Microelectronics will start hiring the sacked Micron researchers it agreed to take on last month in Q1 2015, says ST CFO Carlo Ferro.

“We will start to hire these people in the course of the first quarter of 2015,” says Ferro.

“We entered into an agreement with Micron and we took commitment to hire about 140 people, possibly 170, depending on the available profiles . . . . . . .under certain terms, agreed with Micron with . . . . some relief of the cost in the initial period, making at the end what I believe is a win-to-win solution,” says Ferro.

This seems to imply that Micron will be contributing to the cost of ST re-hiring the Micron researchers for the initial period of their re-employment with ST.

The researchers were all employed by ST before being transferred to the Numonyx jv between ST and Intel which was later sold to Micron.

Ferro added that the 140/170 researchers would mostly be re-deployed in ST’s Automotive, Industrial and Power business segment.

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via Yuichun