Thursday, October 18, 2012

Large-scale layoffs return amidst economic downturn

l  According to Taiwan's Council of Labor Affairs (CLA), the number of large-scale layoffs increased significantly in July and August compared to that in the first half of 2012.

l The CLA further stated that the layoff of 1360 employees at ProMOS Technologies is by far the largest this year.

l  At the same time, Nanya Technology (TaiEx 2408), a leading memory chipmaker in Taiwan and part of the Formosa Plastics Group (FPG), recently announced plans to lay off 200 workers due to poor sales and a general slowdown in the industry. In addition, the firm will transfer 400 employees to other units of the FPG to restructure its labor force.

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