Elcoteq releases additional details concerning Pecs down sizing

evertiq reported on Monday that Finland based EMS provider Elcoteq will lay off 700 employees in Hungary. An Elcoteq official has told evertiq that it have started an official mass layoff procedure in Hungary which was reported to the Regional Labour Authority on Friday. “During the execution of the procedure, based on the Labour Code, we will lay off approximately 400 own and 300 temporary employees. Decreasing order quantities from our Customers due to the overall market conditions do not allow us to maintain our current headcount,” Carsten Barth at Elcoteq told evertiq.