Business News
Hungarian jobs to go as Sony moves production to Malaysia
Jun 2, 2010, 14:59 GMT
Budapest - Sony Corporation is to relocate its Hungarian production operations to Malaysia, resulting in the loss of 540 jobs, the Japanese electronics giant announced on Wednesday.
The firm's plant in Godollo, on the outskirts of the capital Budapest, will close in December after 14 years of operation.
The manufacture of DVD and Blu-Ray players will be transferred to Malaysia, the state news agency MTI reported, citing Godollo factory director Koichi Nakayama.
The move is part of an ongoing restructuring at Sony Corporation, which last month posted net lossesof 40.8 billion yen (439 million dollars) for the financial year to March.
Hungary has lost thousands of production line jobs since 2008 as the global economic downturn has hit major export markets.
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