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Fujitsu is to chop 16,400 jobs worldwide by March 2002.

The Japanese chip and computer giant today said it planned to make 11,400 workers redundant overseas, and 5,000 in Japan.

The total job cuts, which Fujitsu warned about last month, will reduce the company's headcount by around ten per cent. The company employs around 10,000 people in the UK, but did not say how many of these would be affected by the move.

It will also take a 300 billion yen ($2.5 billion) charge to cover the restructuring costs.

Last month Fujitsu reported losses of 55.4 billion yen ($450 million) for its first quarter ended June 30. At the time, it said it expected to lose 220 billion yen for the full year.

Today it said it hoped to post a 400 billion yen operating profit in its fiscal year 2003, and intended to push further into the software and services markets.

The announcement came one month after rival NEC said it would chop 4,000 jobs in its chip business. The company also expects to withdraw from DRAM production within three years. ®

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