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Electronics Production | May 02, 2006

Foxconn to start layoffs in Hungary

Taiwan based EMS giant Foxconn International's Hungarian subsidiary Foxconn Hungary Kft has earlier announced a decision to lay off 10% of its staff this in early May.

Foxconn seeks to cut costs and increase efficiency, making a total of 300 out of 3000 employees redundant. Nearly 65% of the employees that will be removed are Slovak citizens. According to a spokesperson for the local job centre this layoff will unlikely create a major problem in the job market as technical staff is in heavy demand by the region's manufacturing and assembly plants. Despite this layoff Foxconn is not planning to decrease its production volume in Hungary. A new unit will soon be added. Foxconn is currently the second largest employer in Komárom, Hungary.
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