Skip to: Content
Skip to: Site Navigation
Skip to: Search
THURSDAY, NOVEMBER 26, 2009
| Subscribe to Newser's RSS feeds RSS | Follow Newser on Twitter Twitter


0

NEC to Lay Off 20,000

Japanese electronics giant hammered by falling demand, stronger yen

Share

(Newser) – The Japanese electronics giant NEC announced today that it will cut 20,000 jobs worldwide after posting a fourth-quarter loss of $1.45 billion, reports the Wall Street Journal. NEC's losses ballooned as demand fell for its semiconductors and chips, and the strength of the yen further hurt its bottom line. A Japanese business daily reported today that NEC is now in talks with Toshiba to combine their chip operations, although the company did not confirm the report.

An office worker walks with a parasol in front of a sign touting Japanese computer and network equipment maker NEC Corp. in Tokyo.
An office worker walks with a parasol in front of a sign touting Japanese computer and network equipment maker NEC Corp. in Tokyo.   (AP Photo/Katsumi Kasahara)
A shopper looks at Japanese electronics maker NEC's personal computers at a Tokyo store.
A shopper looks at Japanese electronics maker NEC's personal computers at a Tokyo store.   (AP Photo/Shizuo Kambayashi)
Kaoru Yano, president of NEC Corp., takes a seat during a press conference in Tokyo today.
Kaoru Yano, president of NEC Corp., takes a seat during a press conference in Tokyo today.   (AP Photo/Koji Sasahara)
A man walks beneath an NEC corporate logo in Tokyo today.
A man walks beneath an NEC corporate logo in Tokyo today.   (AP Photo/Koji Sasahara)
« Prev« Prev | Next »Next » Slideshow
OFF THE GRID
11.24.09
Murdoch and Microsoft: The Mice Are Trying to Roar
11.23.09
Books Are Bad for You
0 comments
VIEWING:
 
LEAVE A
COMMENT Comment Policy
Facebook ConnectPost this comment to Facebook?

After connecting you will have the option to post your comment on your Facebook profile.

 

Related Newser Stories

2 Stories




 Sony Slashes 8,000 Jobs 


Dec 9, 08 6:25 AM CST
(AP) - Sony is slashing 8,000 jobs, or 4%of its global work force, aiming to cut costs by $1.1 billion a year as a global downturn and stronger yen batters profits at the Japanese electronics maker. Sony, which has 185,000 employees worldwide, said today it will complete the layoffs... More »

MORE ABOUT:
Japan • layoffs • Sony • unemployment • yen • job cuts • financial crisis

Electronics Giants Join Forces

Panasonic, Hitachi, and Canon announce tie-up

Dec 26, 07 7:08 AM CST
(Newser) - Hitachi, Canon, and Panasonic have announced plans to work to together in moving flat-panel display technology forward, PC World reports. Competition is heating up in the industry, and the companies hope the alliance will accelerate development time. The firms will work together on LCD displays and organic light emitting diode... More »

MORE ABOUT:
Japan • electronics • Canon • flat screen TVs • Sharp • Panasonic • LCD • LEDs • Hitachi

2 Stories


World  •  Business 
TwitterFollow @NewserWorld on Twitter

 
Japan • layoffs • electronics • quarterly reports • NEC Corporation • semiconductors

from our news partners