Panasonic close down in CZ

Panasonic AVC Networks Czech, part of Japanese Matsushita Electric Industrial Group, will close down its manufacturing unit in Žatec (Czech Republic), citing the global economic crisis as a reason. All 230 staff currently employed at the facility will be made redundant, local media reports. The company plans to relocate production to its main facility in Plzeň (Czech Republic); starting from the beginning of next year. It is said that all employees have been offered the possibility to work in Plzeň.