Resonac, a major supplier of thin films for the surface of hard drive platters, has laid off several hundred employees and is about to close the business completely. This is the only large company in China that is engaged in this area.
Resonac will carry out cuts in three stages and ultimately simply close its plant in Hsinchu, where it initially employed about 600 people. Considering the position of this company in the market, its departure could not but affect the industry as a whole. In September, 40 companies based in Hsinchu Science Park collectively laid off 165 employees. In October, this figure increased sharply, with 48 companies laying off 496 workers. And most of the October layoffs are related to cuts at Resonac.
However, it is worth noting that if we talk about this scientific park, despite the cuts, there are now 2% more employees working there than a year ago.
As for Resonac, the situation with the company is probably related to the situation in the HDD market as a whole, which has been gradually declining for many years.