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Finnish electronics company Elcoteq has told the local labor office and unions that it will lay off 680 workers at its plant in Pécs (SW Hungary), news website pecsistop.hu said on Monday.
About 2,800 employees work at the plant at present, down sharply from 7,000 before the crisis.
Elcoteq set up in Hungary in 1998. It earlier operated three plants but now has just the one in Pécs.
Elcoteq invested HUF 13.5 billion in Hungary between 2003 and 2008.