BEP International Holdings Ltd will shut down its appliances plant today and dismiss 1,500 employees. It's the second major layoff of an export-oriented company in Guangdong within a week.
Hong Kong-listed BEP, an exporter of home appliances, said "export
volumes dropped drastically this year registering huge deficits," state
media quotes a spokesman of the company.
Some 1,500 employees will lose their jobs, as the 22,000 square metre
factory will be closed by the management. BEP was selling five million
units of home appliances annually to the United States, the Middle
East, Asia, Europe and Oceania.
Last week, toymaker Smart Union Group announced the closure of two of its factories in Guangdong, dismissing 6,000 workers as exports to the
U.S. fell sharply.
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http://www.bizchina-update.com/content/view/1468/2/
Toymakers Go Bust in Financial Crisis
http://www.bizchina-update.com/content/view/1477/2/
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