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dcfc2007

Panasonic moves out of thailand

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51 minutes ago, dcfc2007 said:

https://www.bangkokpost.com/business/1922036/panasonic-moving-factories-to-vietnam-800-jobs-to-go-in-thailand

Panasonic moving jobs from Thailand to Vietnam. Higher labour costs and a strong baht most likely hasn't helped.

My wife used to work for Panasonic in Khon Kaen. After the move Panasonic will still have about 13700 workers involved in other manufacturing sites in Thailand.  Of course these could move at a future time but presently only about 6% is being removed form the workforce.

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Just now, Horizondave said:

My wife used to work for Panasonic in Khon Kaen. After the move Panasonic will still have about 13700 workers involved in other manufacturing sites in Thailand.  Of course these could move at a future time but presently only about 6% is being removed form the workforce.

This is one of the few cases of factory closures that make the headlines. I read an article just prior to Covid19 that said around 10% of factories in Thailand had either moved, closed or reduced operations significantly.

The economy there has been in the doldrums for a few years, they diddy the books and hand out 1k baht every few months to make it look better. Any job loss on this scale is an indicator of something seriously wrong.

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