Peru-based switchboard components factory Schneider Electric has announced that it will close its Square D site in Peru, laying off 306 employees. The company tells our partners at WIBC it is moving operations from Peru to other states and Mexico "in response to competitive market dynamics and to meet the needs" of customers.
The International Association of Machinists and Aerospace Workers, the union that represents the employees, plans to meet with the company this week to discuss the closure.
Schneider Electric has a history of layoffs at its Peru site, cutting more than 60 jobs last year.
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