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.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.