27,000 jobs to go at NEC and Hitachi
According to Guardian News :”NEC and Hitachi, the Japanese electronics makers, will between them cut at least 27,000 jobs worldwide to try to counter falling demand and plummeting prices.”
NEC is “aiming for 20,000 or more,” NEC’s president, Kaoru Yano, told a news conference. “It is regrettable that we have to announce such a big downgrade. We must cut waste.”
NEC, a major producer of semiconductors, said about half of the job losses would affect full-time employees and that 40% would be in Japan.
Company Info update (NEC): According the the company’s Web site, NEC and its more than 300 subsidiaries employ approximately 150,000. Several of NEC Corp.’s subsidiaries are in Silicon Valley, including Santa Clara-based NEC Electronics America, San Jose-based NEC Tokin America Inc. and Cupertino-based NEC FiberOpTech Inc. NEC Laboratories America has an office in Cupertino.
Update 1 (1-30-2009):
- NEC’s half the layoffs will be full-time positions.
- NEC plans to exit the liquid-crystal display (LCD) business.
We have officially reached a new magnitude of madness. A company willing to cripple itself in such a manner is new to me.
#1, how do you like their “We must cut waste”? I’ve heard very similar comment in Texas Instruments layoff thread about cleaning up some “dead wood”
NEC cut loose some of the brightest people and guess what? The competition got them and NEC is now going down more. Why? Because they are dumb and dumber. Waste? The old Luddites I worked with laid me off because they felt threatened. Karma. I have a better paying job now with a competitor.
I am glad to be out of that misogynist company. All the did was cater to AT&T taking them to dinner and strip shows. We had a professional pimp in the office.
It’s the most sexual disgusting place I have ever worked, Japanese company. Oh, my bosses biggest job was getting the wine for xmas and carrying golf clubs for the big cheese.
They are the “waste”.
HA!