Sanyo to cut over 14000 jobs

Japanese electronics maker Sanyo said on Tuesday it will cut 15 per cent of its workforce or more than 14,000 jobs in the next three years in a bid to return to profit. Sanyo said in a statement it will 'reduce worldwide employment by 15 per cent' by the end of the fiscal year to March 2008. Currently the company has some 96,000 employees ...

Sanyo has seen its profits slide due to intense competition in digital cameras and suffered damage to its chip-making plant in an earthquake last October in central Niigata province.

- and thus the casualties mount ...

(2005-07-05 22:06:05 SGT) [Biz] Permalink

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