Major electronics companies compete in job cut plans
Major electronics companies are trying to survive international
competition by initiating massive job cuts as announced in late August,
Akahata reported on August 28.
Electronics giant Hitachi Ltd. has decided to cut about 20,000 jobs at
home and abroad, out of the 340,000 employees the Hitachi Group has.
Toshiba Corporation is also to cut about 19,000 jobs out of the Toshiba
Group's 188,000 workforce by March 2004. Toshiba's cut is targeted at
employees in Japan, with 17,000 domestic jobs targeted.
Toshiba, the biggest computer chip maker, plans to close or consolidate
30 percent of domestic manufacturing facilities and expand its plants in
China and other Asian countries. Mitsubishi Electric is mapping out a
restructuring plan to be announced in September.
Restructuring will be carried out by not replenishing retirees, but by
selling some businesses to other companies, and cutting outsourcing
businesses.
These major producers use the recent decline in profits as a pretext for
the drastic corporate restructuring plans. (end)