Friday, July 01, 2005

Sanyo to cut 10,000 jobs

Nihon Keizai Shimbun (Nikkei), reports that Sanyo Electric will cut more than 10,000 jobs, or one-tenth of its workforce, in Japan and abroad over the coming years.

Three thousand of the jobs will be trimmed from Sanyo's semiconductor and other operations in Japan, where it has 38,000 employees, in the current financial year to March 2006.

Sanyo's shares rose 1.7 pct following the report