15th October 2021 – (Hong Kong) The YKK Hong Kong Ltd. factory in Tuen Mun which has been in operation for many years, will be closed and restructuring will be carried out. A total of about 240 people will be laid off. According to the sources, many middle-aged employees have been retrenched.
The company stated that it will lay off employees in phases in the next 12 months starting in June this year. Among them, the Tuen Mun plant plans to lay off about 220 people. In addition, due to the dwindling business scale, production support and some sales and management-related positions will also be reduced. About 20 people are planned to be laid off. YKK explained that in making this decision, the impact of the epidemic is one of the factors, and the change in market structure is the main reason. The company will compensate employees based on their working years and other factors.
YKK Hong Kong Limited was established in 1966 as a subsidiary of YKK Corporation. The company produces and sells zippers under the brand name of YKK, as well as other products such as plastic parts and tape notions. Our Tuen Mun factory building not only provides the production base in Hong Kong for the company as an industrial building, but is also available for rental to private tenants as a rental building.