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© alexander podshivalov dreamstime.com PCB | August 29, 2019

PCB manufacturer to lay off more than 400 employees

Taiwanese PCB manufacturer, Dynamic Electronics Co., is looking to sell its Taoyuan manufacturing facility following years of running losses. As a consequence the PCB maker is will also lay off the majority of its employees.

The Taiwanese company, together with representatives of Labour Department in Taoyuan, held a meeting with the affected employees back on August 19, to inform the workers about the decision, according o local media reports. The currently planned layoffs of more than 400 employees are scheduled for October 15. Both the Labour Department and Dynamic have reportedly said they will assist affected employees to find new jobs, according to a report in Focus Taiwan. In an update and clarification from the company, posted on the Taiwanese stock exchange, the company details the cause of its actions saying that; “It is carried out to improve the company's overall competitiveness since the global economy turned weak in year 2019 caused by the impact of the US-China trade war.” In conjunction with the Group's production line consolidation, the company plans to transfer the production capacity of the Taoyuan Plant to the overseas factories. The Taoyuan Operation Headquarters will be fully devoted in R&D, product technical services and group orders, the company states in the update. Focus Taiwan says that the Dynamic’s Taoyuan plant employs 490 Taiwanese employees and 132 migrant workers from Thailand, citing information from the Labor Department. The layoff plan now in affect does not cover the Thai workers, however they will also be let go.
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September 18 2019 10:52 am V14.4.0-1