Laird cuts 40% of jobs in response to slow down
Laird plc, the design and supplier of components and systems for electronic applications, said in a trading update today (16 December) that it had reduced its headcount by 4,500 in the final quarter of the year.
As a result of a slowdown in demand for its products across virtually all of its market sectors in November Laird said direct labour had been reduced by about 40%, or some 4,500 employees.
The company’s manufacturing facility in Hungary was in the process of being closed and three US facilities would be closed or downsized significantly, with production being transferred to Mexico and China, it said. This would lead to further job cuts during the first half of 2009.
