AN electronics company which aimed to employ 1,400 people in Cork by next year, yesterday announced it will lay off 100 of its 700 workers because of a worldwide downturn in demand for its products.
General Instrument in Macroom, Co Cork only recently completed building a £15 million extension quadrupling its floor apace and hoped to reach a turnover of more than $100 million (£62 million) this year from $58 million in 1995.
The first sign of trouble in the US owned plant came last month when the workforce was put on a four day week. Now, 100 contract employees will be laid off on October 4th, with the remaining 600 workers returning to a full 24 hour, five day operation at the plant.
The plant manufactures power rectifiers, voltage suppression units and high quality silicon wafers for the computer and telecommunications industries. The recently appointed general manager, Mr K J Peng, said it operated in a cyclical market subject to fluctuations in demand.
"While it is difficult to predict how long the slump will continue, the company is confident the current situation in the world wide market will correct itself and General Instrument Ireland will be well positioned to take advantage of the next market upturn," he added.
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