Online information source for semiconductor professionals

Sanyo slashes 1,200 jobs

15 January 2009 | By Síle Mc Mahon | Recruitment News

Popular articles

New Product: Applied Materials new EUV reticle etch system provides nanometer-level accuracy - 19 September 2011

Oberai discusses Magma’s move into solar PV yield management space - 29 August 2008

‚??Velocity‚?? the new buzzword in Intel‚??s PQS annual awards - 12 April 2012

Applied Materials adds Jim Rogers to Board of Directors - 29 April 2008

New Product: ASML Brion‚??s Tachyon MB-SRAF enables OPC-like compute times - 19 September 2011

Japan's Sanyo Electric Co. Ltd. has decided to cut 1,200 jobs as it sees huge losses in its chip business, according to Reuters. Executive Vice President Koichi Maeda told reporters at a news briefing in Japan that it will axe 600 of its chip workforce (approximately 6% of total) and 600 contract workers at chip operations both in Japan and overseas. Sanyo has blamed declining sales, increased costs in operations and instability in the yen for the need to cut jobs.

According to the Reuters report, the company is under pressure from Panasonic, which is in talks to acquire Sanyo, to minimize losses prior to the acquisition. Sanyo is said to expect an operating profit of ¥30 billion, down 40 percent from its reported outlook of two months ago.

Related articles

Panasonic in discussions to acquire Sanyo - 07 November 2008

SANYO Electric closes Masan semiconductor plant - 02 October 2008

Say sayonara to Sanyo Semiconductor - 23 September 2007

Micronas losses force major restructuring - 07 October 2007

US High-Tech Industry adds 77,000 Jobs in 2008 - 31 March 2009

Reader comments

No comments yet!

Post your comment

Name:
Email:
Please enter the word you see in the image below: