News | Wednesday, 25 February 2009

100 layoffs averted from Methode

Methode Malta Electronics Group, the automotive switchgear manufacturer, has avoided the lay-off of 100 of its 750 employees.
In the face of a slump in the international car market, Methode had gone for a four-day week schedule and had in mind the eventual termination of the contract of 100 of its employees.
Government intervention announced on Tuesday is reported to have averted the lay-offs through support of Methode’s investment and training programme set for €6.5 million in 2009 and another €6 million next year.
The state support, of which no details were given in the DOI Press Release, is intended to help Methode weather the current crisis with a view to an increase of competitiveness and employment levels once it has passed.
Minister Tonio Fenech described the deal reached with Methode as evidence of the government’s efforts to support manufacture, enterprise and the tourism sector in a time of need.
The General Workers Union also took credit for its role in discussions with Methode management after the company put its workers on a four-day week in November.
The GWU said it had insisted that the workers would be given training so that they can be ready to take on new challenges opened up by the technological developments.

PRINT THIS ARTICLE

Other News

Ministry slams PL charge on €12.6m loss on EU membership

Fenech adopting the right approach – Helga Ellul

Italy reports ‘boom’ in Maltese tourism from Bari

Chamber keeps open line of Communication with the Authorities on Economic Support Schemes

‘The Exchange’ excavation application approved

New Head of Life at Citadel Insurance

100 layoffs averted from Methode

Government must refund VAT on registration tax – EC

Brussels to fund ‘Erasmus’ for SMEs

Office of Fair Competition hides behind confidentiality on GO-NextWeb merger

Economic downturn terms defined

IFC enhances FIMBank’s Trade Facility to U$D 20m

Renewable Energy finds BOV Support

Land Rover sponsors Malta Marathon

HSBC posts 2008 results

California dreaming