June 18, 2001 – Geneva, Switzerland – STMicroelectronics (ST) has shut down both of its Singapore plants for three weeks to reduce inventory, a recent report said.

ST has put about 1,600 workers, about 40% of its local 4,000 work force, on paid leave for three weeks, the Business Times reported. Workers with less than three weeks annual leave will be forced to take the time from next year’s annual vacation, ST said.

ST runs two wafer fabrication plants in Singapore, which make five- and six-inch wafers.