Vogt Electronic cuts 700 jobs in Germany
Vogt Electronic cuts 700 jobs in Germany
Keywords: Vogt Electronic AG, Germany
German News Digest: German electronics company Vogt Electronic AG has decided to cut 700 jobs in Germany and to open the same number of jobs in its units in Romania, Mexico and China as part of a restructuring programme approved at an extraordinary shareholders' meeting on December 12, 2002.
The company suffered from a falling demand for electronic components in the 2001/02 fiscal year, ended September 30, 2002. Vogt Electronic does not plan any redundancies in its printed circuit board plant in Dresden, eastern Germany, the head of the plant's works council Matthias Guettler said the plant, with a total of 295 employees, "has a high capacity utilisation and makes no losses".
