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.
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