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  Flextronics confirm that XBox production has started in Mexico and Hungary
Time: 19:34 EST/00:34 GMT | News Source: Reuters | Posted By: Byron Hinson

Contract manufacturer Flextronics International Ltd. FLEX.O said on Tuesday it was maintaining financial guidance for the September quarter despite taking a $380-million restructuring charge amid a continued slump in the market for electronics and components. Singapore-based Flextronics, which held a meeting in New York for analysts on Tuesday, said the announced $380 million charge included $90 million in cash charges related to job cuts. Flextronics did not specify how many jobs were cut in the fiscal second quarter, which ended Sept. 30. But the company laid off 1,500 workers in Sweden in early August and has periodically downsized other workers at plants it has acquired, part of an industry trend in the last year to reduce staff as part of the economic downturn.
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