Nikon Thailand- 1,500 Contractors Laid-off
The Bangkok Post (”All the news that’s fit to print”) reports that Nikon has laid off 1,500 contractors due to reduced demand:
Nikon Lays off 1,500 in Thailand
Japanese camera-manufacturing giant Nikon yesterday laid off 1,500 of its subcontracting staff in Ayutthaya province after a slump in orders due to the global financial crisis.
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All the dismissed workers are under subcontracts and have worked with the company for less than a year, said Pongthai Musikapong, of the Labour Protection and Welfare Office in Ayutthaya.
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Nikon (Thailand) set up it first factory in Thailand in 1990. There are 8,000 permanent staff and 4,000 subcontracting staff at its four factories.
Well that stinks for everyone involved. Nikon mainly makes the lesser products in Thailand- we I believe that means they expect to see fewer of the low-end cameras and lenses being sold. This makes sense since the Pro’s will largely continue buying what they have to have in order to work, and the amateurs spend for completely different reasons.
Tags: economy, financials