20,000 jobs expected to go at Hitachi

After job losses from Fujitsu, NEC and Toshiba, Hitachi is the latest Japanese tech company to announce cutbacks, with 20,000 jobs expected to be cut worldwide

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By  Mark Sutton Published  August 27, 2001

Japan continues to feel the bite of the tech slowdown, as Hitachi announce the loss of 20,000 jobs. The cuts follow on from losses announced last week by Fujitsu and Toshiba.

Hitachi intends to refocus its investment, with changes in under-performing semiconductor and electronics parts divisions. The company has already announced a 140 billion yen ($1.16 billion)cut in spending for the semiconductor division in March this year. A revised profit forecast is expected by the end of the month.

14,000 of the expected job losses will be in Japan, with the rest in global operations. The news adds further to Japan’s economic worries, which has minimal growth and declining exports, and unemployment at a record high.

Last week Fujitsu axed 16,400 jobs, Toshiba cut 20,000, and NEC 4,000.

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