Panasonic moves factory from Thailand to Vietnam
Japanese electronics producer Panasonic announced it will shut down a large appliance factory for white goods outside Bangkok as early as this autumn and move production to a larger facility in Vietnam to increase efficiency, laying off around 800 employees, according to a Reuters report.
The Thai factory will stop producing washing machines in September and refrigerators in October, the report said. The facilities themselves will be closed by March 2021, and a neighbouring research and development center will also be shut.
Some employees will receive help finding a different position within the group, a Panasonic spokesperson said.
With the move to Vietnam, Panasonic seeks to reduce costs through consolidating parts procurement. The Vietnam plant, located outside Hanoi, is the company’s largest manufacturing hub for refrigerators and washing machines in Southeast Asia and has excess capacity.
After the closures, Panasonic, which had been producing large household appliances in Thailand since 1979, will still have around 13,700 workers involved in the manufacture of small appliances and batteries in the country.
Panasonic currently employs about 8,000 people in Vietnam. In addition to large appliances, local units manufacture products such as TVs, cordless telephones, card payment terminals and industrial devices.
Panasonic is in the midst of restructuring efforts, with the goal of cutting costs by about $930 million by its current fiscal year ending March 2022. The company said that is considering further changes to its appliance production.
Panasonic will lay off some 800 workers in Thailand Japanese electronics producer Panasonic announced it will shut down a large appliance factory for white goods outside Bangkok as early as this autumn and move production to a larger facility in Vietnam to increase efficiency, laying off around 800 employees, according to a Reuters report. The Thai factory will stop producing washing machines in September and refrigerators in October, the report said. The facilities themselves will be closed by March 2021, and a neighbouring research and development center will also be shut. Some employees will receive help finding a different position...
Japanese electronics producer Panasonic announced it will shut down a large appliance factory for white goods outside Bangkok as early as this autumn and move production to a larger facility in Vietnam to increase efficiency, laying off around 800 employees, according to a Reuters report.
The Thai factory will stop producing washing machines in September and refrigerators in October, the report said. The facilities themselves will be closed by March 2021, and a neighbouring research and development center will also be shut.
Some employees will receive help finding a different position within the group, a Panasonic spokesperson said.
With the move to Vietnam, Panasonic seeks to reduce costs through consolidating parts procurement. The Vietnam plant, located outside Hanoi, is the company’s largest manufacturing hub for refrigerators and washing machines in Southeast Asia and has excess capacity.
After the closures, Panasonic, which had been producing large household appliances in Thailand since 1979, will still have around 13,700 workers involved in the manufacture of small appliances and batteries in the country.
Panasonic currently employs about 8,000 people in Vietnam. In addition to large appliances, local units manufacture products such as TVs, cordless telephones, card payment terminals and industrial devices.
Panasonic is in the midst of restructuring efforts, with the goal of cutting costs by about $930 million by its current fiscal year ending March 2022. The company said that is considering further changes to its appliance production.
