Monday, December 18, 2006
BenQ Corp. will close its cell phone R&D center in Beijing that will result in laying off of about 400 engineers.
The cuts come after BenQ recently decided to reduce its R&D force in Shanghai by 40 percent. The moves are part of a wider reorganization of its bankrupt mobile phone unit, BenQ-Siemens.
Taiwan's BenQ said it lost $600 million in the first nine months of the year, and intends to sell off some of its non-core assets in order to recover from the costly and futile effort to turnaround the cell phone business it acquired from Siemens last year.
It has also decided to close cell phone factories in Brazil and Mexico, and consolidate its Taiwan and Suzhou cell phone production in its Shanghai facility by the third quarter of next year.
By: DocMemory
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