By Ian Jones, 26 October 2001 07:15
NEWS Flextronics is to lay off 10,000 staff and close 20 per cent of its factory floor space as the firm continues to take a pessimistic view of when recovery in the electronic compenents sector will take place. The US-owned Singapore-based company manufactures components for Ericsson mobile phones, as well as Microsoft's Xbox games console. According to the latest reports, Flextronics chief Michael Marks claims the firm is confident that recovery will occur in the market, but its short-term planning is currently based on 'assuming the worst'. The lay-offs will amount to 15 per cent of the firm's workforce. In its latest quarterly result announced late yesterday, Flextronics announced a net loss of $330m.
In order to post a comment you need to be registered and logged in.
Log in or create your silicon.com account below