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Samsung is shrinking its Slovak operations

The Galanta-based plant of Samsung is laying off 600-900 of its 1,500 workers, say unofficial sources. The management says “TV set production will be re-organized from February 2020”. Samsung has reduced the workforce of its Galanta plant by 2,000 in recent years and closed the plant in Voderady last year. The Galanta plant makes high-end TV sets, large displays and LCM panels. Over the past 17 years, Samsung has received state investment assistance totaling €131m. It drew the last part of the assistance last year and in 2017, it paid out €595m dividends to its HQ. At its peak, with 6,000 workers, it was among Slovakia’s largest companies. Last year, it reported €1.8bn sales. The Galanta district has among the lowest unemployment rates in the country, just 2.3%.

Táto správa je z Ekonomiky DNES, denného prehľadu najdôležitejších ekonomických správ zo Slovenska.

This news is from the Slovak Business News TODAY, one-page summary of all the important Slovak business news.

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