ADVERTISEMENT

Philips Hungary to lay off one-third of workers at plant in Székesfehérvár - paper

Recycling

Philips Hungary expects to lay off one-third of the workers at its plant in Székesfehérvár (NW Hungary) as some production is outsourced, communications director Péter Blazsevácz said in Tuesday's issue of regional daily Fejér Megyei Hírlap.

The layoffs will be made in the spring because production of electric razors as well as packaging and assembly of toothbrushes is being outsourced, Blazsevácz said.

Philips cold close talks on establishing a joint venture with Hong Kong's TPV Technology by the end of this year, but it is not clear to what degree the partnership will affect television production at the plant in Székesfehérvár, he added.

Philips announced in April that it entered into a term sheet to transfer its television business into a JV with TPV Technology as part of a long-term strategic partnership. The new company will be 70% owned by TPV and 30% by Philips, Philips said.

ADVERTISEMENT

MKIK: Local business tax should be maintained Analysis

MKIK: Local business tax should be maintained

Parl't votes to phase out savings coops integration framewor... Parliament

Parl't votes to phase out savings coops integration framewor...

Roche Szolgáltató appoints P&C business partner lead Appointments

Roche Szolgáltató appoints P&C business partner lead

Budapest airport shuttle bus service expanded City

Budapest airport shuttle bus service expanded

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.