Olympus to move production to Vietnam
Japanese digital camera manufacturer Olympus has decided to combine its two factories in China into one before 2009 to reduce costs.
According to local media, the company says that China’s new Labor Contract Law will be enforced in January 2008 and by that time it can not easily dismiss employees or hire temporary workers, which will lead to an increase of its operational costs. So in order to reduce costs and transfer risks, it will close one factory in China and move the facility to a new location in Vietnam.
