The very famous 'Werk fuer Fernsehelektronik' (fabric for telly electronics) will be closed for ever. After years of subsidized tv screen production, Samsung is going to close down the famous plant. The laid off count is 700. The close down is due to the rise of plasma screens, which are not produced there. True, conventional screens are not easy to sell nowadays. However, Samsung made the 'off business' decision after years of cashing in public subventions.
Is this yet another case of economic policy failure? Why not closing down the plant when it's time has come and spend the money on educational activities for the laid-offs? No, first spend money for years and years on technologies, whose time had come already and afterwards spend more money on the educational realignment of the now laid off employees. All you have achieved is spending money and loosing time. Precious time, which could have been used to adapt.
Why am I interested? Cause the Werk fuer Fernsehelektronik was the first business I was working for, years ago.
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