Japanese car parts supplier Denso Corp will lay off up to 800 workers at its Hungarian plant by the end of September, national news agency MTI reported, citing the company.
Denso's Hungarian unit blamed the job cuts on the difficult business environment, MTI said.
Denso currently employs 4,100 people at its plant in Szekesfehervar, about 60 km west of Budapest.
It has already cut overtime hours and reduced shifts and in January switched to a 4-day work week.
'Despite all this, due to extraordinary difficulties in the business environment job cuts are unavoidable for the company to be able to preserve conditions for long term operation and competitiveness,' MTI quoted Denso Hungary chairman Yukimasa Ohoka as saying in a statement.
From October Denso plans to return to a five-day work week.
Source: Forbes
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