TDK-EPC to cut 200 jobs in Hungary

Plant Manager, Balázs Takács, confirmed the job cuts yesterday. Takács said that although the plant had experienced significant growth during boom times for the electronics industry, it was now feeling the negative repercussions of the poor global economic climate. “Over the past two years we have invested heavily in our Hungarian plant, and were able to create 600 jobs during the global boom in the electronics industry. In this period the number of employees here rose to over 1900, and thus by more than 40 percent,” Takács said. “In the meantime, however, the global economy has cooled down noticeably, which is also being felt in the industries we serve. In order to remain competitive on the highly competitive global market, we have no other alternative but to reduce our workforce by approximately 200 employees. Nevertheless, Szombathely, which employs significantly more people than just two years ago, is and will remain an important plant in our global manufacturing network”.