Taiwanese PCB manufacturer to lay off 600 employees
In a response to slow demand, Taiwanese PCB manufacturer Mutual-Tek industries Co., is reportedly lay off about 600 employees in Taiwan and close all of its production lines in the country.
The decision was reportedly made due to a slowdown in orders from a major client, according to a report from Focus Taiwan. The news agency continues to say that the company plans to move its Taiwan production lines to its plant in Jiangsu, China, citing an official statement from late September. The company was hit by declining orders from Huawei following the US imposed sanctions on the telecom company. Orders from from Huawei and its affiliate companies accounted for about 50% of the PCB manufacturer’s sales in 2019 and roughly 40% of its revenues during 2Q this year, the report continues.