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3,000 Employees of CPT to Start Unpaid Leaves Next Tue.
By Vincent Wang
Published: Nov 06,2015
TAIPEI, Taiwan — It's a freezing cold winter time to come for the panel industry. Chunghwa Picture Tubes (CPT), one of Taiwan's leading flat panel suppliers, confirmed on November 5 that the company had asked its employees to take unpaid leaves due to a supply glut in the global flat screen industry. Therefore, the furloughs are likely to affect some 3,000 employees of the company.
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At the same time, CPT will end production at a 4.5G production fab located in Longtan, Taiwan in the middle of November due to declining demand for for smartphone panels coupled with decreasing overall prices for handset panels.
However, the company has two 4.5G fabs, one of which is mainly focused on production of smartphone panels, which will be ended in this month.
Meanwhile, The company on November 5 announced that CPT's consoliated net sales for October 2015 approximated NT$4,140 million, up 4.5 percent MoM and down 16.7 percent YoY. The company's cumulative consolidated sales revenues from January to October in 2015 is NT$40,334 million, down 14.1 percent YoY.
October shipments of large-sized panels totaled 131 thousand, up 14.9 percent MoM and up 12.9 percent YoY. October shipment of S&M-sized panels totaled 32,944 thousand, up 4.1 percent MoM and down 24.2 percent YoY.
The company’s unpaid leaves starts on November 10, according to CPT.
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