STMicroelectronics $STMPA.PA, a leading Franco-Italian semiconductor manufacturer, announced on Wednesday that it expects a total of 5,000 employees to leave the company voluntarily over the next three years. This figure includes approximately 2,800 employees already notified earlier this year as part of a workforce reduction initiative.

STMicroelectronics, a leading European semiconductor manufacturer, finds itself at the heart of a political and corporate storm after facing insider trading accusations. This situation has not only drawn the attention of the Italian and French governments but also compelled the company to reassess its strategy for relationships with key partners and governments.