Elcoteq to lay off 1150 in Hungary

Elcoteq plans the lay offs at its plant in Pecs, Hungary. According to local reports, the company will cut 250 of its own employees and 900 rented employees. The lay offs of the 900 rented employees are expected to take place during the first quarter 2009. The 1150 employees that will be laid off in Hungary are part of the massive layoff-scheme that Elcoteq announced last week. The company has 5400 employees in two manufacturing facilities as well as the NPI centre in Pecs, Hungary. Elcoteq’s largest plants in Europe are in Hungary and Estonia and its total floor space corresponds to around 40% of the Groups’ entire capacity.