27 Jan 2012

Japanese electronics firm to cut 10,000 jobs

9:12 am on 27 January 2012

The Japanese computer and mobile phone company NEC is to cut almost 10% of its workforce.

The firm will shed 7,000 jobs in Japan and 3,000 elsewhere at a total cost of 40 billion yen.

NEC has been losing money for the last four years.

The company has posted a 97.5 billion yen loss in the nine months to December, compared with a 53.6 billion loss the year before, the BBC reports.

NEC said its mobile phone business had suffered due to rivals including Apple increasing market share.

It is opening a new capacitor factory in Thailand after its current plant was damaged by last year's floods.