Reported 8 months ago
Japanese company Sumitomo Chemical announced a global layoff of 4,000 employees due to a loss of $64.8 billion. The company is cutting production of polarizing plates for LCD screens, impacting tech factories in Taiwan, with rumors of a production line halt in Tainan. Facing reduced TV demand, increased competition, and overproduction, the company plans to reduce polarizing plate production by 30% by fall 2024, potentially affecting Taiwan as well. Despite concerns, the management in Tainan responded that operations are normal with transformation plans underway at the company's Taiwan subsidiary.
Source: YAHOO