TAIWAN: Formosa Moves Fibre Production To Vietnam
In a bid to lower operating costs, Formosa Chemicals & Fibre Corp is moving production lines for textile products from Taiwan to its new plants in Vietnam, leaving around 400 workers jobless. In order to ensure jobs for domestic workers, the company, part of the Formosa Plastics Group, will be terminating contracts with foreign employees, who will be forced to return home.
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