Thursday, 27th August 2009
In Business In Japan,
Fujitsu to cut jobs
Japanese electronics firm Fujitsu has announced plans to cut 1,200 jobs in the UK after suffering from a sharp fall in sales.
By the end of the second quarter of this year, the firm was feeling the effects of a 29.2 billion yen loss after seeing sales fall in Europe, the US and China.
The company said it is making the job cuts "reluctantly", which will all take place in the UK.
Overall, the redundancies equate to a tenth of Fujitsu's total UK workforce, which are based at sites in Bracknell, Stevenage, Manchester and London among others.
In total, the Tokyo-based firm employs around 175,000 people worldwide.
Japan is currently seeing its worse recession since the Second World War with the electronics sector particularly hard hit due to consumers tightening their belts and cutting back on spend on high-value items.
Fellow Japanese firms such as Sony and Nintendo have also been impacted by the ongoing economic downturn, with both companies forced to cut prices of a number of their products.
Written by Kimberley Homer.