With a division closing down, 148 jobs are set to be lost at Ellies.
Electronics group Ellies has decided to shut down its struggling manufacturing segment. As of the end of 2020, the manufacturing segment employed 164 people, accounting for about 20 percent of the group’s workforce. The company says 148 employees will be affected by the liquidation.
The group announced its decision to shut down its manufacturing business on 13 February, saying it was the best course of action to improve the company’s financial position. The decision was taken after determining that the subsidiary is unlikely to turn a profit for the next two years.
Shaun Prithivirajh, the chief executive of Ellies, said making the decision had been very difficult, but they could no longer carry the loss-making unit. He said the manufacturing unit had persevered despite being loss-making waiting for the government’s switch analogue to digital terrestrial television to materialise, which would have made the difference. However, that had failed to happen.
Looking ahead, Shaun said the group was focusing on renewable energy and uninterrupted power supply solutions as more people were working from home and did online schooling.
