Japanese companies make more job cuts
31-01-2009
Japanese companies have announced thousands more job losses. Electronics giant, NEC, will fire 20,000 workers on expectations that its loss for the current financial year will reach US$3.2 billion. Losses in the first nine months soared 13-fold. Its rival, Hitachi, says it'll cut up to 7,000 jobs, and slashed its profit forecast by 90 percent. The country's second biggest carmaker, Honda, cut its full-year profit forecast by 57 percent. The firm says it expects a loss this quarter.
