Flextronics to cut 5,261 Jobs

Singapore – Contract manufacturer Flextronics International Ltd. will cut 5,261 jobs as part of a restructuring.

In a quarterly report filed with the US SEC, Flextronics said it had terminated 856 employees as of June 30 and notified 4,405 employees they would be let go after facility closures and consolidations.

The company had about 80,000 employees at the end of June.

The company said it recorded $76.9 million in employee termination costs in the June quarter. Flextronics said last month it would close plants and reduce headcount as it deals with a prolonged downturn for the contract manufacturing industry.

Last week the company said it would cut 527 workers in Sweden because of weakness in the telecommunications industry, one of its main customer segments. While warning of the job cuts and plant closures, Flextronics also said last month it saw signs of an initial recovery in some of its businesses.


Easily post a comment below using your Linkedin, Twitter, Google or Facebook account. Comments won't automatically be posted to your social media accounts unless you select to share.