April 17, 2009

Toshiba to cut 3,900 jobs as big loss looms

Toshiba Corp. on Friday announced 3,900 more job cuts and predicted a record annual loss as the economic downturn continues to take a heavy toll on Japan’s high-tech giants.

Toshiba had already laid off 4,500 temporary workers in the last financial year to March as Japan’s recession deepened and exports slumped.

Source: AFP

April 16, 2009

Solution to Japan’s Jobless Problem: Send City Workers Back to the Land

Filed under: Japan — 7macaw @ 6:43 am
Tags: , , ,

As the global financial crisis sinks Japan into its worst recession since World War II and hundreds of thousands of jobs are slashed in factories and offices, farming has emerged as a promising new career track.

Seeing agriculture as one of the few industries that could generate jobs right now, the government has earmarked $10 million to send 900 people to job-training programs in farming, forestry and fishing.

Policy makers are hoping newly unemployed young people will help revive Japan’s dwindling farming population, where two in three full-time farmers are 65 or older. Of Japan’s total population, 6% work in agriculture, most doing so only part time, down from about 20% three decades ago.

Source: The Wall Street Journal

February 27, 2009

Honda parts supplier cutting jobs at Indiana plant

According to AP, CNBC: “Nearly 200 jobs are being cut at a central Indiana factory that makes engine parts for Honda Motor Co.

Keihin Indiana Precision Technologies says the moves will take effect by April 10 and reduce the work force of its Greenfield plant by about 20 percent.

The division of Tokyo-based Keihin Corp. had in the past couple months accepted volunteers for temporary four- to eight-week layoffs and cut the jobs of about 100 temporary workers.”

~News submitted by upthecreek

February 25, 2009

Advantest Forecasts Loss, Plans Job Cuts

According to WSJ: “Advantest Corp. (TYO:6857) said it expects to book a net loss of 78 billion yen ($805.7 million) for this fiscal year, prompting a reform plan that includes cutting 21% of its work force.”

~News submitted by upthecreek

February 13, 2009

Pioneer to exit plasma displays, lay off 10,000 workers

Hit by expectations of further financial losses, Pioneer Corp. has announced 10,000 job cuts, plant closings in the US and UK, and plans to leave the plasma display market. Job cuts will include 6,000 full-time salaried employees and 4,000 contract workers both in Japan and other countries.

In a move resulting in some 350 job layoffs, the company will shut down two overseas plasma display assembly plants, located in Pomona, California, and Castleford, Britain. Pioneer plans to exit the plasma display business entirely by March of this year, according to wire reports.


February 10, 2009

Nissan to cut 20,000 jobs

According to Bloomberg: “Nissan Motor Co., Japan’s third- largest carmaker, rose the most in a month after the company said yesterday it would cut 20,000 jobs in an effort to return to profit.”

“The carmaker will slash labor costs in high-wage countries by 175 billion yen ($1.9 billion), or 20 percent, after forecasting its first loss in nine years. Nissan also plans to shift some domestic production overseas to counter a rising yen.”

February 9, 2009

Nissan to lay of 20,000 worldwide.

Filed under: auto,Japan,worldwide — 7macaw @ 6:55 am
Tags: , ,

Nissan Motor Co said on Monday it would lay off 20,000 workers worldwide in the year from April 1.

The automaker also said it was cutting capital spending by 21 percent in the year to March 31 and would cut such outlays by a further 14 percent in the year from April.


February 4, 2009

Panasonic to Cut 15,000 Jobs

According to NYTimes: “Panasonic on Wednesday said it was shedding 15,000 jobs, the second significant layoff in Japan’s electronics industry in less than a week, and the latest example of how Japanese companies, exporters in particular, are scrambling to cut costs as demand evaporates.”

January 30, 2009

27,000 jobs to go at NEC and Hitachi

According to Guardian News :”NEC and Hitachi, the Japanese electronics makers, will between them cut at least 27,000 jobs worldwide to try to counter falling demand and plummeting prices.”

NEC is aiming for 20,000 or more,” NEC’s president, Kaoru Yano, told a news conference. “It is regrettable that we have to announce such a big downgrade. We must cut waste.

NEC, a major producer of semiconductors, said about half of the job losses would affect full-time employees and that 40% would be in Japan.

Company Info update (NEC): According the the company’s Web site, NEC and its more than 300 subsidiaries employ approximately 150,000. Several of NEC Corp.’s subsidiaries are in Silicon Valley, including Santa Clara-based NEC Electronics America, San Jose-based NEC Tokin America Inc. and Cupertino-based NEC FiberOpTech Inc. NEC Laboratories America has an office in Cupertino.

Update 1 (1-30-2009):

  • NEC’s half the layoffs will be full-time positions.
  • NEC plans to exit the liquid-crystal display (LCD) business.

NEC to cut 20,000 jobs

Japanese electronics giant NEC Corp. said it will cut 20,000 workers worldwide as it tries to stanch widening losses from semiconductors and other businesses that have been hard hit by competition and the global economic slump.

The company hopes the job cuts, which will be split equally between Japan and overseas, will help save 80 billion yen over the next two years.

~News submitted by Steve~

Source: Singapore Retrenchment Blog

January 22, 2009

Sony forecasts first annual net loss in 14 years

Filed under: Japan,Sony,Technology — DF @ 9:30 am
Tags: ,

Sony said Thursday it plans to cut another 1,000 temporary workers in Japan and close one of two domestic TV plants.

Sony also will offer early retirement packages to its regular, full-time workers in an effort to cut 30 percent of its personnel costs in its TV business by March 2010. It refused to give a head count but said they are part of the 8,000 job cuts announced earlier, according to Yahoo Finance

News submitted by Alan Clegg

January 8, 2009

Japan’s Mitsubishi to cut 2,000 temporary jobs

According to AP: “Mitsubishi Motors Corp. will slash more than 2,000 temporary jobs in Japan by the end of March as the country’s fourth largest automaker struggles in the face of a severe slump in sales worldwide.”

“Mitsubishi announced last year it would cut 1,100 temporary jobs by the end of March 2009. But faced with a plunge in global demand, the Japanese automaker will slash another 900 temporary jobs, bringing the total number of job losses to over 2,000, the Sankei newspaper said Thursday.”

TDK to cut global workforce by 8,000+ jobs in March; close 4 plants, 1 R&D center

Filed under: Japan,Technology,worldwide — DF @ 2:15 pm
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According to the company press-release, TDK’s plan to ‘rationalize’ personnel in March 2009, will cost at least 8,000 workers (including subcontractors) their jobs. The company plans to close 4 plants and 1 R&D center overseas.

December 28, 2008

Japan’s industry, employment weaker

Filed under: FYI,General,Japan,unemployment — DF @ 11:04 pm
Tags: ,

According to CNN: “Japan’s industrial output took the largest drop in history in November over October, tumbling 8.1% – nearly double the previous record of 4.3% in January 2001, according to a report from the Ministry of Economy, Trade and Industry.”
“More than 2.5 million Japanese are out of work, the ministry said, and for every three people looking for a job, only 1.5 jobs are available. That ratio is the lowest in nearly 5 years.”

December 22, 2008

Toyota May Cut U.S. Payroll

According to Bloomberg: “The worst U.S. auto market since the early 1990s may force Toyota Motor Corp. to do something that was once unthinkable: cut its North American payroll.

Asia’s largest automaker, which hasn’t shed workers in 24 years of building cars in the U.S., is exhausting options to trim costs after halting work on a Prius plant in Mississippi, idling a Texas truck factory for 15 weeks and planning to pare U.S. and Canadian output next month.”

  • “Toyota has 30,000 North American employees spread among 14 assembly, engine and parts plants, and vehicles built in the region made up 56 percent of U.S. sales through November.”

We wouldn’t anticipate it getting to that point, but we never say never,” said Jim Wiseman, vice president of external affairs for Toyota’s North American production unit.

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