Feeds

15,000 jobs for the chop at Hitachi

Losses of $1.2 billion forecast

  • alert
  • submit to reddit

High performance access to file storage

Around 15,000 jobs are for the chop at Hitachi after the Japanese manufacturer warned losses for the financial year would top $1 billion.

The company said today it would axe 10,200 jobs in Japan, and 4,500 overseas by March 2002.

The cuts, which represent around 4.5 per cent of Hitachi's global workforce, will mainly effect its semiconductor and display divisions.

The company also warned it expected to record a net loss of 140 billion yen ($1.2 billion), including restructuring costs of 80 billion yen, for the year ending March 2002.

Sales are forecast to fall ten per cent to 7.9 trillion yen for the year - down from the previous estimate of 8.8 trillion yen.

Meanwhile, Kyocera and Fujitsu also plan to reduce staff numbers. Kyocera has issued a profit warning and yesterday said it would reduce staff numbers by 10,000 at its overseas subsidiaries by the end of the year. Fujitsu aims to axe around 16,000 jobs worldwide. ®

Related Stories

Fujitsu to chop 16,000 jobs worldwide
AOL bins 1700 jobs
Job losses may follow Toshiba DRAM output costs

High performance access to file storage

More from The Register

next story
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
Sorry London, Europe's top tech city is Munich
New 'Atlas of ICT Activity' finds innovation isn't happening at Silicon Roundabout
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
HP ArcSight ESM solution helps Finansbank
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.