One of top Chinese high-end home appliance maker, HiSense will reportedly cut some 2,200 jobs in Europe by the end of the year due to the effect of the coronavirus affecting the demand of its products according to the Slovenia-based HiSense Euope onThursday.
The company said that March orders were down by a third year on year, by almost two thirds in April and are expected to be down by a quarter in May and June.
With about 9,309 workers in Europe, 5,580 of those works in Slovenia while the others are spread across other countries like Serbia and the Czech Republic. The company in a report gotten through Reuters said jobs in Slovenia will be cut by about 1,000 while 1,200 jobs will be cut in other countries across Europe.
The company said it expects a loss of “several tens of millions of Euros” in the first half of 2020 unlike the previous forecast profit of 1.1 million euros. “The number of employees will be reduced in all units of Hisense Europe,” the company said in a statement, adding that the process will include outsourcing, voluntary redundancy and retirement.
The Coronavirus pandemic had caused serious damage to the economy of many countries around the world with Slovenia reporting about 1,366 cases with 79 deaths from the disease leading to the shut down of all schools, bars, restaurants, hotels and cultural institutions, with public transport also shut down since mid-March.