Updated: Methode Electronics going on four-day week
(Adds Methode's and GWU's comments)
Methode Electronics has informed its employees that they will go on a four-day week as from Monday, sources told timesofmalta.com this afternoon. The company, which manufactures switches for the automotive industry, employs over 600 people.
The company said it has been constrained by the international situation and its effect to adopt a four-day week. It said that the nature of the company’s business, which was completely automotive related, was such that the flow of orders for its products was extremely vulnerable to the effects of the current global economic climate.
Methode said it would be monitoring the situation closely and responding as appropriate to protect the interests of all its stakeholders.
In another statement the GWU said that the company yesterday informed it that it wanted to drastically reduce its work force.
The union said that following long discussions today, it managed to avoid dismissals and workers will be working on a four-day week for four weeks when the situation will again be reviewed.
Another major company, Trelleborg, which manufactures 'O' rings for the automotive industry, went on a four-day week earlier this month.