PRZOOM - /newswire/ -
Tokyo, Japan, 2005/07/05 - Sanyo, Electric Co. announced a massive layoff of about ten thousand plus employees. Japanese nationals will be the most affected by the recent decision..
With a truggling semiconductor sector the leading manufacturer and distributor of consumer and commercial electronics announced the decision of reducing its current worldwide workforce of about 10 percent.
The plan will affect firt Japanese nationals but unfortunately will affect operations overseas. North America will problably be affected seriously.
In Japan, Sanyo will trim its group payroll of 38,000 by 3,000 this fiscal year, the report said, adding some 2,000 of these cuts are expected to come from its struggling semiconductor sector. (Kyodo News)
SANYO Electric Co., Ltd. (NASDAQ: SANYY) is a $24 billion manufacturer and distributor of consumer and commercial electronics, including multimedia and telecommunication products. Based in Chatsworth, California, SANYO Fisher Company (a division of SANYO North America Corporation, a subsidiary of SANYO Electric Co., Ltd.) markets PCS phones, audio systems, portable and mobile electronics, televisions, DVD players/recorders, dictation devices, digital camera/camcorder combinations, home appliances, LCD projectors, security video equipment and air conditioning systems.
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