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GREENVILLE, S.C. KEMET Corporation will cut costs in its Monterrey, Mexico, facilities by reducing employment by about 400 people. The company states that a combination of normal attrition, release of temporary employees, and a reduction-in-force of roughly 120 workers, will comprise the cost-cutting initiative. Severance and related costs will total approximately $800,000
KEMET expects to save about $4 million per year thanks to the reduction in staff, and says that the facilities will remain at full production. Per Loof, CEO of KEMET, noted that the decision was not made lightly, but that reductions were essential to global competitiveness.
To provide capacitance solutions, including surface mount capacitor technologies across tantalum, ceramic and solid aluminum dielectrics, the company operates manufacturing plants in Simpsonville and Fountain Inn, South Carolina; Matamoros, Monterrey, and Ciudad Victoria, Mexico; Suzhou, China; and Evora, Portugal.