Innolux to Close Module Factory in Nanjing China, affecting 2,395 employees
According to UDN News, Innolux, a leading provider of LCD panels and touch solutions headquartered in Taiwan, will close its Nanjing module factory and transfer its equipment to its Ningbo factory. The company is laying off employees in batches, affecting about 2,395 people. These employees will be provided with severance packages and assistance in finding new employment, demonstrating Innolux's commitment to their well-being during this transition.
Innolux is a subsidiary of Foxconn Technology Group and has 14 factories in Taiwan, China, and Vietnam.
The Nanjing factory, acquired from Tongbao Optoelectronics, is a small- and medium-sized panel module factory. It was once the world's largest manufacturing base for small- and medium-sized TFT panels, producing panels for many well-known international mobile phone and digital camera brands.
Innolux said in a media statement that the company is committed to improving production configuration and overall operational efficiency. The decision to. s manpower structure is part of a broader strategy to strengthen the group's development and adapt to the changing market conditions in the LCD panel and touch solutions industry adjust some production lines and products at the.
The company said it is grateful for the contributions of its Nanjing factory employees and will work with local government agencies to help them find new jobs.
In recent years, Innolux has actively promoted its transformation, merging unprofitable production lines. The company's general manager, Yang Chuzhang, revealed at the end of last year that in addition to introducing automated production at its Zhunan plant, Innolux plans to close one 5.5-generation line in Tainan and arrange for more than 300 employees to be transferred to other departments. In response to the closure of front-end panel factories, back-end modules also need to be transformed, and Innolux will also reduce its module factories in China.
Key points:
- Innolux is closing its Nanjing module factory and transferring its equipment to its Ningbo factory.
- The closure will affect about 2,395 employees.
- Innolux is committed to helping its Nanjing factory employees find new jobs.
- The closure is part of Innolux's ongoing transformation efforts.
Investor
Innolux
Outbound region
Inbound region
Industry
Date of record
10 April 2024
