ST-Ericsson joint venture begins dissolution process, 1,600 jobs gone in the process

It's typically a bad sign when a major semiconductor company sees its CEO walk away, and no one in adjoining offices stops to do anything about it. Such is the case with ST-Ericsson, a (now) failed joint venture of STMicroelectronics and Ericsson. The two outfits have seemingly failed to find a suitor for the JV, leaving them with relatively few options -- poor ones at that. In a release posted today (and embedded after the break), the entity has stated that each partner company will take on som...