Electronics Production | October 09, 2008
TVAB lays off in Poland as well
As evertiq reported, Sweden based TVAB International has announced the lay off of 57 staff at its facilities in Töcksfors and Skänninge (Sweden) and named the decline in production activity as reason. However according to the latest reports the company will also lay off employees at its plant in Poland.
TVAB – in recent years – has had a rapid sales growth and reached a turnover of around €27 million in 2007. The results for H1/08 are good and TVAB is in final negotiations concerning several new large orders for the coming year. In recent weeks, however, the company's customers drastically reduced their orders. This is a result of the extremely fast and surprising sharp elconomic downturn. To react to the decreased sales numbers, TVAB is forced to lower its costs by phasing out production at its Töcksfors plant and significantly reduce the number of staff in Sweden. However, there will also be staff reductions at TVAB’s Polish plant.