By Lisa Burroughes, 31 July 1998 13:30
NEWS Tyneside has been dealt a bitter blow this morning as Siemens confirmed it will be closing its semiconductor plant. The company will axe all 1,100 jobs, however it hopes to relocate 20 per cent of the current workforce within the Siemens group. A letter was sent to 500 staff this morning informing them of the decision after weeks of speculation about the factory's future. The redundancies are planned to start at the end of September. The company claims the closure is a result of the Asian economic crisis and the strong pound. A full report will appear on Silicon News later today.
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