NEC to cut 10,000 jobs

Japanese manufacturer NEC has announced that it will cut 10,000 jobs and is expecting to record a loss of Y100bn ($1.3bn) for 2011. Some 3,000 positions will be lost outside its home country.

The company forecasts extraordinary loss of about Y40.0bn for the fiscal year ending March 31, 2012, mainly due to business restructuring costs centered on personnel reductions.

The firm said that challenging business conditions will mean that it makes Y150bn less than the previous forecast and is therefore expecting sales to stand at Y3.1tn, mainly due to a decrease in sales in the carrier network business, a decrease in sales from its mobile phone business and the impact of flooding in Thailand on the platform business.


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