"Sanyo Hungary will embark on a massive headcount reduction due to the closure of its rechargeable battery plant.Sanyo Hungary is to shut down the production of rechargeable batteries at its Dorog plant (north of Budapest) and let go 640 of its 840 employees, transferring the remaining 200-strong staff to the solar module unit, local newswire MTI reported on Friday.
Battery production will be moved to China by September 2008, the company told a press conference. Based on available information, the rechargeable battery facility will be shut down because Sanyo cannot operate this segment profitably anymore due to increasing wage costs in Hungary."
Source: Portfolio Online Financial Journal
28.01.2008