LG Philips Displays is to close its plant at
Production is expected to cease towards the end of July 2005 and will result in the loss of 761 jobs.
‘The decision is based solely on the continuing adverse business situation and in no way reflects on the performance of the employees here. Without their hard work, commitment, flexibility and determination, this plant could have closed several years ago,’ said David Coppock, plant director.
We’ve seen a 30% fall in our prices over the past two years. The plant has incurred heavy losses and with no sign of recovery, we simply cannot sustain this position any longer,’ Coppock concluded.
Support for those laid off will take the form of a severance package and assistance to find new jobs and/or retraining in partnership with the UK JobCentre Plus and other agencies.