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Financial Distress Faced By Taiwanese Company Chunghwa Picture Tubes

Chunghwa Precision Tubes have a sudden suspension of work with no notice on their two factories in Taoyuan, the company is known as display screen manufacturer. Its factories from Longtan District and Yangmei District had been shut down.

Employees reported for work but to no avail as everything is uncertain regarding the status of the company. The company employs an estimate of 4,400 employees with local Taiwanese and migrant workers together with Overseas Filipino Workers (OFW).

The company is on a financial distress and its loan must be paid immediately. Restructure is needed that is why the company suddenly suspended and shutdown the two plants. It cause too much confusion from the company’s suppliers, clients, partners and mostly its employees.

According to report, early signs of its financial distress is that is already cut 20% of its manpower that happen last September 2018 but the company deny it as they only announce a 1.4% cut of its workforce.


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