Innolux Corp (群創) yesterday said it is seeking to optimize operations amid a lingering industry downcycle, while a news site reported that the LCD panel maker would cut 100 jobs at a factory in Miaoli County.
The Chinese-language Nextapple News Web site, citing an Innolux employee, yesterday reported that the Miaoli-based company asked about 100 people to resign.
Most of the workers are at the company’s T1 factory in Miaoli, where it makes less advanced panels, the report said.
Photo provided by a reader via CNA
The severance program is to take effect on Monday next week, the report said.
Like its peers, Innolux is cutting factory utilization to buffer against falling panel prices.
Although Innolux confirmed it was making workforce adjustments, it did not disclose details or say how many workers would be affected.
“After a careful and extensive evaluation, the company will streamline its management entirely,” it said in a statement. “The main measures will encompass optimal adjustments in structure and production lines, with an aim to strengthen the company’s development and business deployments.”
The manufacturer said it has communicated with affected employees, and would seek to make appropriate arrangements and work allocations.
Innolux reported a net loss of NT$1.9 billion (NT$60.3 million) last quarter, compared with a loss of NT$5.47 billion in the second quarter.
That was the company’s sixth straight quarter of losses as adverse macroeconomic conditions affected customer demand, while high inflation depressed consumer spending.
Consolidated revenue in the first 11 months of the year fell 7 percent year-on-year to NT$193.07 billion, the company said in a regulatory filing last week.
Innolux is pinning its hopes on a turnaround next year, as the Olympic Games and other major sporting events could stimulate demand for TVs and related components, Innolux president James Yang (楊柱祥) told reporters last week.
The introduction of new smartphones and notebook computers with artificial intelligence capabilities would also help boost panel demand, he said.
UNPRECEDENTED PACE: Micron Technology has announced plans to expand manufacturing capabilities with the acquisition of a new chip plant in Miaoli Micron Technology Inc unveiled a newly acquired chip plant in Miaoli County yesterday, as the company expands capacity to meet growing demand for advanced DRAM chips, including high-bandwidth memory chips amid the artificial intelligence boom. The plant in Miaoli County’s Tongluo Township (銅鑼), which Micron acquired from Powerchip Semiconductor Manufacturing Corp (力積電) for US$1.8 billion, is expected to make a sizeable capacity contribution to the company from fiscal 2028, the company said in a statement. It would be an extended production site of Micron’s large-scale manufacturing hub in Taichung, the company said. As the global semiconductor industry is racing to reach US$1 trillion
Singapore-based ride-hailing and delivery giant Grab Holdings Ltd has applied for regulatory approval to acquire the Taiwan operations of Germany-based Delivery Hero SE's Foodpanda in a deal valued at about US$600 million. Grab submitted the filing to the Fair Trade Commission on Friday last week, with the transaction subject to regulatory review and approval, the company said in a statement yesterday. Its independent governance structure would help foster a healthy and competitive market in Taiwan if the deal is approved, Grab said. Grab, which is listed on the NASDAQ, said in the filing that US-based Uber Technologies Inc holds about 13 percent of
ABOVE LEGAL REQUIREMENT: The Ministry of Economic Affairs is prepared if LNG supply is disrupted, with more than the legal requirement of 11 days of inventory Taiwan has largely secured liquefied natural gas (LNG) supplies through May and arranged about half of June’s supply, Minister of Economic Affairs Kung Ming-hsin (龔明鑫) said yesterday. Since the Middle East conflict began on Feb. 28, Taiwan’s LNG inventories have remained more than 12 days, exceeding the legal requirement of 11 days, indicating no major supply concerns for domestic gas and electricity, Kung said at a meeting of the legislature’s Economics Committee in Taipei. The ministry aims to increase the figure to 14 days by the end of next year, he said. While one or two LNG or crude oil shipments for May
Taiwan’s food delivery market could undergo a major shift if Singapore-based Grab Holdings Ltd completes its planned acquisition of Delivery Hero SE’s Foodpanda business in Taiwan, industry experts said. Grab on Monday last week announced it would acquire Foodpanda’s Taiwan operations for US$600 million. The deal is expected to be finalized in the second half of this year, with Grab aiming to complete user migration to its platform by the first half of next year. A duopoly between Uber Eats and Foodpanda dominates Taiwan’s delivery market, a structure that has remained intact since the Fair Trade Commission (FTC) blocked Uber Technologies Inc’s
RSS