Reported 9 months ago
Tech giant Sumitomo Chemical reported a loss of 311.8 billion Japanese yen (about 64 billion Taiwanese dollars), leading to plans to halt production at its Tainan production line with layoffs totaling 4,000 worldwide. The company aims to reduce production of polarizing plates used in liquid crystal displays and implement structural reforms for profitability by the first quarter of the following year. Various factories, including those in Tainan and Pyeongtaek, South Korea, will see production line shutdowns as part of the global restructuring effort.
Source: YAHOO