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© filmfoto dreamstime.com General | October 08, 2019

Molex layoffs in Nebraska

Molex laid off an undisclosed number of workers at its plant in northwest Lincoln, according to the Lincoln Journal Star.

Molex VP of Corporate Communications Susan Armitage confirmed the layoffs to the Journal Star but declined to provide any other details. "As a leading supplier to the dynamic global electronics marketplace we must continually evaluate market demand and adjust our operations to align our resources with that changing demand. Having a market-competitive cost structure is critical for building a sustainable business," Armitage said in an emailed statement. "Decisions like this are never easy and we are committed to working with affected employees through the transition, including outplacement assistance and severance pay." The company, which manufactures electronic components for automobiles, appliances, airplanes, personal electronics and other products, relies heavily on imported materials, as well as foreign sales of its products. Additionally, Crain's Chicago Business reported last week that one-third of the company’s revenue may come from sales to China, which means the ongoing trade-war may be directly responsible for the lay-offs. Parent company Koch Industries referenced the impact of an effect tariffs could have on the company one year ago in a post to its website: "Molex must now pay significant additional tariffs on U.S. imports from China, as well as any products it exports to China from the U.S.," the essay said. "Those costs must be passed on to the consumers who buy new smart phones, vehicles, appliances or rely on advanced medical equipment." According to Crain's, Molex has laid off employees across the country.
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December 03 2019 10:29 pm V14.8.2-2