News
BEIJING – China's recent labor laws might actually prove a boon to larger companies such as Foxconn and Yue Yuen Industrial Holdings, analysts say.
SHENZHEN – Foxconn, Huawei, ZTE and more than 300 other companies have formed a local electronics manufacturing alliance, offering preferential policies for its members. It is unclear whether the preferences run afoul of WTO or other trade laws.
CHICAGO – Methode Electronics will slash 700 jobs from its U.S. automotive operations to help the components maker compete, the company said today. The moves are expected to be completed by year-end.
In a press release, the firm said only limited production and support staff would remain at its automotive operations facilities in Carthage and Golden, IL. Production of legacy connectors at its Rolling Meadows, IL, factory would be cut as well.
"As a result of fewer programs remaining for these plants and anticipated continued reduction in customer production volumes, Methode is taking this action to transfer the remaining programs from its U.S. facilities," the company said.
Methode makes a range of connector products, including thick film hybrids and flex circuits. It also owns Trace Laboratories.
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