Toshiba Information Equipment Philippines is investing an additional P110 million to expand its operations in the country, and as a result will open more 600 jobs in the process.
The expansion of the Toshiba Digital Media affiliate comes on the heels of other electronic firms reducing their working hours and manpower as a result of the drop in global demand due to the financial crisis.
The new investment will translate to more jobs in the electronics industry. The expansion project will employ 618 people who will work on two shifts per day.
Philippine Economic Zone Authority (PEZA) Director General Lilia B. De Lima said she is happy over the expansion plans because it will help mitigate the effects of the financial crisis by providing additional employment. [Read full article...]