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Gemplus to Cut 1,000 Jobs
Dec 10, 2002
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Gemplus International SA, a smart-card maker, said it planned to cut 1,000 more jobs in an effort to save 100 million euros (U.S. $100 million) next year. Gemplus will trim 483 jobs in France, said its chief executive, Alex Mandl. The company has been facing slowing demand from mobile phone makers and infighting among board members. Mr. Mandl said the job cuts would help Gemplus return to profit. But he declined to say when Gemplus may post a profit again. (Bloomberg News)

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