IBM to Close Down Plant Near Capital
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IBM will close down its plant making high-capacity storage devices in Vác, near the capital, relocating production to Mexico, the company said on Tuesday, according to a report by state news wire MTI.
Lay-offs will take place gradually until production at the plant ends in the first quarter of 2024, it added. Consultations are ongoing with the works council and the trade union; some of the workers will be directed to other IBM units in Hungary.
The plant had 448 employees at the end of last year, public records show.
The Hungarian subsidiary, IBM Data Storage Systems, had revenue of USD 32 million in 2022, down from USD 106 mln a year earlier.
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