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July 21st, 2005
Euro's gains push costs up for U.S. customers
Genevieve Oger: When semiconductor company STMicroelectronics announced earlier this year that it would lay off 2,300 workers in Europe, the company blamed some of its difficulties on the "continued weakness of the dollar." The U.S. currency experienced a boost since ST outlined its restructuring strategy in June, but its overall weakness compared to the euro is forcing ST and other companies to engage in a difficult balancing act.
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