Tokyo, Mar 30: Hit by global recession, Japan's leading household appliances maker, Hitachi Ltd is planning to close its flat-panel television factory in the Czech Republic. Hiroki Inoue, Hitachi spokesperson said that the company will end operations at the plant and layoff all 800 employees.
Hitachi is Japan's second largest plasma-television maker. The decision to shut the plant came as part of cost-reduction plan as the company forecasts a record 7 bn yen ($7.1 billion) loss this fiscal due to global economic recession. The company also predicts a fall in shipments of plasma televisions in the year ending Mar 31.