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Flextronics To Cut 30% Tech Jobs In China
December 2, 2008 |
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Flextronics, one of the world's leading electronics manufacturing services providers, will cut 30% of the jobs in its Beijing office in addition to closing its research and development department in Beijing.
Local media reports quote a company insider who says Flextronics has already started its large-scale job cuts. The 30% layoff in its Beijing office is just a beginning. The company will implement its second layoff two months later and the situation may be more serious. At the same time, employees in Flextronics' foundry factories have also been included in this layoff, but the details are currently not available.
Having opened factories in more than 30 counties and regions, Flextronics has over 130,000 employees around the world.
The company has been affected by the same global economic turmoil that has seen a large layoff wave attack finance and technology businesses. Many international giants like Intel and Dell have downgraded their revenue expectations and some other companies such as Asia-based Foxconn have announced plans to cut jobs or make covert staff cuts in China.
Shipments of the world's leading notebook foundries, including Asia-based Quanta Computer, Compal and Flextronics, declined by 6% to 15% compared with those in July 2008 and the share price of Flextronics decreased by as much as 21% over the past month.
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