Hundreds lose jobs at solar cell factory, newspaper

ECONOMY

A solar cell and solar module manufacturer and a leading business newspaper are laying off staff even though the government is seeking foreign loans to reinvigorate the economy.

Chachoengsao-based Bangkok Solar Co yesterday asked more than 200 staff to collect their final pay packet and compensation payment. The firm, a source said, employs about 700 people and wants to reduce its workforce by 30%.

Executives could not be reached for comment yesterday.

The firm is a subsidiary of Bangkok Cable Group. Exports account for between 80% and 90% of its production.

Than Setthakit, a weekly business newspaper, has decided to lay off 60 staff, including members of the newsroom, citing the damaging effects of the global economic crisis.

The company had to resize to survive the crisis and those laid off would receive financial compensation in line with the labour law, said editor-in-chief Chaiwat Wanichwattana.

The company would pay compensation by instalment because of its liquidity problems and that had been accepted by the staff, he said.

Than Setthakit is not the first media firm to lay off a large number of staff in the past year. GG News Network, or the Business Radio Station, has closed down. Nation Multimedia Group Plc which runs The Nation English daily, has also laid off a significant number of newsroom staff.