No Lay-offs at Perlos in Singapore

Perlos, a finnish mobile phone casings company for Nokia, has said it will cut 4,000 jobs or a third of its worldwide workforce, by the end of 2007, with job cuts expected in Finland, Mexico, Brazil, Hungary and China. However Perlos’s product development centre in Singapore is not on the blacklist.
In the past few years, Perlos has gone through structural changes which have resulted in the rationalization of the company’s operations to better correspond to demand in the mobile phone industry. However, the company’s profitability is still unsatisfactory.
Perlos said it had registered an operating loss of three to four million euros in the fourth quarter and a loss of 32 to 33 million euros for the full-year.
The company decided to launch a profitability improvement programme which intends to boost the efficiency of its operation and reducing annual expenses by more than EUR 100 million.
Of the 4,000 jobs that will disappear by the end of 2007 in Europe, Asia and North and South America, 1,200 will be cut in Finland alone, where production could be shut down permanently.
In 2008 the investment need for Perlos is expected to be significantly smaller.

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