Are you sure?

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

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.