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Eastern Asia lays off half of staff at Hungarian plant

Eastern Asia Industries Kft, a maker of speakers for electronic entertainment units, laid off half of the 100 workers at its plant in Hatvan, 60 kilometers east of Budapest, on January 1, a company official announced. The official would not reveal the reason for the staff cuts.

The company, owned by Singapore-based investors, has been operating in the local industrial park since 1999 and has annual revenue of about $20 million.
Eastern Asia's announcement is the second within days on layoffs in the Hatvan industrial park. South Korea's Dai Dong laid off 76 of its 114 staff, also from the start of the year, after the plant lost an order from Sony's plant in nearby Gödöllő. Dai Dong said it would shut down the plant by the end of March if it acquired no further orders.