Chunghwa Picture Tubes lays off more than 50% of employees in Taiwan

Chunghwa Picture Tubes (2475-TW), a display manufacturer, announced its plan for manpower adjustment today on March 11st. The company has submitted the plan to Department of Labor, Taoyuan City Government for a large number of employees lay-off.

The plan will be handled in accordance with the labor-related laws and regulations and procedures. There are 2,500 staff and workers on the production line affected, which is equivalent to more than half of the employees in Taiwan.

Chunghwa Picture Tubes had a financial crisis before. The company applied for financial restructuring to Taiwan Taoyuan District Court on December 13rd, 2018. According to the restructuring plan, the company needs to streamline its business content, partially dispose of idle capacity and reduece the expenses in distribution, personnel and operating for resurgence.