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Aikawa Hungária lays off 120 employees

Aikawa Hungária Electronics Kft, the local unit of Japanese-owned Exas Philippines Inc., fired 120 workers, or 26% of its workforce, at its central Hungarian plant after labor costs rose and orders dropped, business daily Napi Gazdaság reported.

One of the companies Aikawa supplies will relocate some of its production, the newspaper reported, citing Aikawa executive Réka Muzsay. The company plans no further dismissals from its present workforce of 350 at the factory in Dunaújváros, she said. Exas Philippines is registered in the Philippines and manufactures the pressed steel parts of floppy disk drives of personal computers.