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Japan's TDK to axe 8000
Thu, Jan 08, 2009
Reuters
TOKYO - JAPANESE electronic components maker TDK Corp said on Thursday it would close four overseas manufacturing bases and cut more than 8,000 workers as it faces its biggest-ever annual net loss this business year.
[COLOR="_______"]The company said it expects these restructuring measures will help improve its annual operating profit by 62.9 billion yen (S$1 billion).
TDK now expects to plunge into a 28 billion yen net loss in the year to March due to weak orders and a stronger yen. It now expects the dollar to average 90 yen in the January-March quarter, against its previous estimate of 100 yen.[/COLOR]
Thu, Jan 08, 2009
Reuters
TOKYO - JAPANESE electronic components maker TDK Corp said on Thursday it would close four overseas manufacturing bases and cut more than 8,000 workers as it faces its biggest-ever annual net loss this business year.
[COLOR="_______"]The company said it expects these restructuring measures will help improve its annual operating profit by 62.9 billion yen (S$1 billion).
TDK now expects to plunge into a 28 billion yen net loss in the year to March due to weak orders and a stronger yen. It now expects the dollar to average 90 yen in the January-March quarter, against its previous estimate of 100 yen.[/COLOR]
