• Most Popular
  • Most Shared

Denso to cut up to 800 jobs at Hungary plant -MTI

Thu Jul 9, 2009 8:07am EDT

Stocks

   

BUDAPEST, July 9 (Reuters) - Japanese car parts supplier Denso Corp (6902.T) will lay off up to 800 workers at its Hungarian plant by the end of September, national news agency MTI reported on Thursday, citing the company.

Denso's Hungarian unit blamed the job cuts on the difficult business environment, MTI said.

Denso currently employs 4,100 people at its plant in Szekesfehervar, about 60 km west of Budapest.

It has already cut overtime hours and reduced shifts and in January switched to a 4-day work week.

"Despite all this, due to extraordinary difficulties in the business environment job cuts are unavoidable for the company to be able to preserve conditions for long term operation and competitiveness," MTI quoted Denso Hungary chairman Yukimasa Ohoka as saying in a statement.

From October Denso plans to return to a five-day work week.

(Reporting by Krisztina Than;)



More from Reuters

Photo

Democrats gain 60th vote on health bill

WASHINGTON (Reuters) - Senate Democrats reached a compromise on Saturday with the last holdout senator that secured the 60 votes they need to pass a broad healthcare overhaul sought by President Barack Obama.

» More Top News
A woman shops at a Sam's Club store, a division of Wal-Mart Stores, in Bentonville, Arkansas June 4, 2009. REUTERS/Jessica Rinaldi

The food-stamp economy

On the last day of every month, shoppers at Walmart load their carts with food and household items and wait for the midnight hour. Is this the new normal in America?  Full Article 

U.S.
Two men shake hands in a file photo. REUTERS/File

Let's make a deal

The battered M&A sector will make a tepid recovery in the coming year and three hot sectors will lead the way, according to a Thomson Reuters analysis.  Full Article 

Global Deals Review