Panasonic to close Žatec plant, lay off 590 workers

The Japanese company Panasonic announced on Wednesday it will close its plant in Žatec, in northern Bohemia, and lay off some 590 workers. The firm, which launched the production of LCD panels in the plant in 2007, quoted strategic considerations as the reason. The decision to close the plant in Žatec will reportedly not affect another Panasonic operation in Plzeň.