NEC to cut 15,000 jobs

NEC to cut 15,000 jobs
Tom Foremski
NEC says it is cutting as many as 15,000 jobs as the Japanese electronics giant reports huge losses.
NEC reported a $1.25bn loss for its recent fiscal year and announced a reorganisation that calls for 15,000 job cuts and moving staff between different business divisions. The job cuts will be made over the next three years with 9,000 job cuts in Japan and 6,000 in its overseas locations.
The company is suffering from a slow domestic market and slow demand from Asian markets plus a failure to establish its computer systems business in the US.

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