European semiconductor maker STMicroelectronics will present its new strategic plan on Monday, December 10, 2012 before European stock markets open.

The management of STMicroelectronics will conduct a conference call on December 10, 2012 at 9:00 a.m. Central European Time / 3:00 a.m. U.S. Eastern Time, to discuss the new strategic plan, followed by a Q&A session.

STMicro has been making chips in cars, health and fitness machines, since the chip orders from its its largest customers, Nokia Oyj and BlackBerry maker Research In Motion Ltd., have been decreased.

The company also said it plans to cut costs by $150 million a year by the end of 2013, in a move that may affect jobs as well.