CHINA: Triumph International Axes 400 Jobs
Underwear manufacturer, Triumph International, is the latest victim in the global economic downturn. The company, based in Germany, has axed 400 jobs at its Hong Kong base due to the sluggish retail environment. Triumph said market conditions had forced it to adjust production capacity at its Tuen Mun plant. About two-thirds of its Hong Kong production staff are to lose their jobs but none of its other factories in south east Asia have been affected.
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