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Dynamic Electronics Confirms Reports of Layoffs
August 27, 2019 | I-Connect007Estimated reading time: 1 minute
Dynamic Electronics Co. Ltd, one of the leading providers of PCBs in Taiwan, was recently reported to be laying off more than 400 of its employees.
In a statement released to the Taiwan Stock Exchange, Dynamic confirms the layoffs, saying that it is being carried out to improve the company's overall competitiveness since the global economy turned weak this year due to the impact of the US-China trade war.
In conjunction with the group's production line consolidation, Dynamic said it plans to transfer the production capacity of the Taoyuan Plant to its overseas factories. The Taoyuan Operation Headquarters will be fully devoted to R&D, product technical services and group orders.
To accommodate this restructuring, the staff will be retained in the operation headquarters according to the nature of the job, be assigned to the overseas factory, or be arranged according to their own career planning. The company will also engage with the industry to refer employees for possible employment.
On August 15, the company notified the Department of Labor regarding its layoffs. The matter will be handled in accordance with the relevant laws and regulations.
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