Germany's Kienle+Spiess has laid off 105 of the 450 staff at its electric motor and generator component plant in Hungary because of falling orders, Kienle+Spiess Hungary HR director Andrea Erőss told MTI on Thursday.
In spite of the fall in orders, the unit will continue the expansion of its plant, adding 6,000 square meters to the existing 13,000 square meters, Erőss said. The additional area will be used for warehouse space until orders pick up again, she added.
Kienle+Spiess's plant in Tokod, north of Budapest, generates annual revenue of HUF 14 billion. (MTI-ECONEWS)