"The job cuts announced [by the NEC Corporation] today are bigger than expected"
- Yuichi Ishida, an analyst at Mizuho Investors Securities Co.
NEC Corporation announced on Thursday it plans to cut 10,000 jobs, almost one-tenth of its workforce, in an attempt to decrease costs as weak global growth and fierce competition reduce demand for its computers and mobile phones.
"As macroeconomic concerns about Europe and developing countries increase, we decided to invest limited resources in lesser business segments," President Nobuhiro Endo said today in Tokyo.
"The job cuts announced today are bigger than expected," said Yuichi Ishida, an analyst at Mizuho Investors Securities Co. in Tokyo. "This will probably help the company reduce expenses, and we'll probably see some improvements immediately from next fiscal year."
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