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©kheng-guan-toh-dreamstime.com Electronics Production | March 12, 2012

Panasonic moves Newport factory, cuts 164 jobs

Panasonic will transfer its production of telephone exchanges from Newport, Wales, to Vietnam, meaning the loss of more than 160 jobs.

Roughly 90 jobs will remain in Newport, which will remain a customer support centre. The restructure is expected to be completed by the end of September. The company blamed lack of demand in Europe and an "ongoing severe economic environment" for the restructure. The move to Vietnam would be more cost-effective the company said. ----- Source: bbc.co.uk
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