NEC said it would lay off as many as 20,000, employees during the coming year, the company said Friday.
The layoff notices came as part of a nine-month financial report for the period ended Dec. 31. For fiscal 2009, NEC now expects profits to decline from a profit of 15 billion yen ($165.9 million) to a loss of 290 billion yen ($3.02 billion), and sales are expected to decline by 9 percent to 4.2 trillion yen ($46.5 billion), with an operating loss of 30 billion yen ($331.9 million).
Saturday, January 31, 2009
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