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Elcoteq makes fewer than planned layoffs in Hungary

Finnish electronics maker Elcoteq has completed layoffs at its base in the Hungarian city of Pecs, letting 246 staff go, far fewer than earlier planned, communications director for the unit Zoltán Krippl told MTI on Thursday.

Elcoteq's stock of orders has stabilized in the past weeks, Krippl said. Demand for many of the products the company makes grows in the run-up to the winter holidays, he added.

Elcoteq laid off 176 of its own workers and 70 contracted laborers. In August, Elcoteq had planned to lay off 700 staff, Krippl said.

Elcoteq said in August it would lay of 390 of its own workers and 310 contracted laborers.

At the beginning of the year, Elcoteq laid off 1,350 workers, including 450 of its own employees. (MTI-Econews)