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NEC to Lay Off 20,000

Japanese electronics giant hammered by falling demand, stronger yen

By Jason Farago,  Newser Staff

Posted Jan 30, 2009 6:03 AM CST

(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...   Read full story »

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