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© gaby saliba dreamstime.com Electronics Production | August 06, 2019

10'000 jobs to go at Flex in China

Contract manufacturer Flex is said to cut 10'000 jobs in China due to its fight with Huawei over USD 100 million in assets.

While Flex has not confirmed the details - which are distributed by Chinese financial magazine Caixin - Reuters, the company is nevertheless cited in an article with saying that "after careful review of the market situation and customer need, we are offering impacted employees job opportunities within Flex Zhuhai Industrial Park and other Flex locations." In the spat, Huawei accused Flex of withholding around CNY 700 million yuan (USD 100 million) worth of goods in its Zhuhai factory; this being apparently the result of Washington putting Huawei on a trade blacklist in mid-May. At the time, Flex had said it was “actively working” with Huawei “to find a mutually agreeable way forward” after their partnership had “recently been impacted by unforeseen challenges resulting from the US/China trade situation”.
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November 12 2019 7:31 am V14.7.10-1