25 years after the acquisition of the factory, Panasonic wants to close the printed circuit board in Ennshafen (Upper Austria) at the end of December. According to media reports, around 140 employees must be affected.
At the location in Ennshafen, basic material for printed circuit boards is made, which is required for electrical appliances. This location was the only one from Panasonic outside of Asia. Production must continue to run normally by December.
Market shares have recently shrunk heavily
For a reason for the closure of how a spokeswoman for a company is quoted by the “Oön”: “The market share of Europe in production for this type of components has shrunk from around 20 to two percent in the last 20 years.”
Closure for employees only time frame
After dismantling, the Ennser location must be sold. Panasonic employs 228,000 people worldwide, around 11,000 of them in Europe.
For the employees in Ennshafen, the Werzen Council wants to find a socially acceptable solution. According to an employee, nothing had been invested in work for a long time and the closure was only a matter of time.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
