Foxconn, which supplies mobile phone parts to a nearby Hungarian plant of Nokia Oyj, is cutting jobs to increase competitiveness by reducing labor costs, said József Katona, head of the Hungarian unit. Foxconn is firing 150 engineers, 100 physical workers and 50 office workers, Privátbankár said.
Foxconn, the Hong Kong-listed unit of Taiwan’s biggest electronics maker Hon Hai Precision Industry Co., is also cutting staff at factories in Finland to consolidate local production, which includes sites in Brazil, India and China, to lower costs.
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