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Electronics Industry Japan Layoffs

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BUSINESS
February 20, 1999 | From Associated Press
NEC Corp., Japan's biggest personal computer and chip maker, said Friday it overhauled its management and will cut 15,000 jobs, or nearly 10% of its work force, over three years as it struggles to recover from slumping sales and massive losses at its Packard Bell unit in the United States. About 6,000 of the job cuts are outside Japan; the company did not say how many will hit its 7,000 U.S. workers. The downsizing is the latest corporate fallout from the spreading economic crisis in Asia.
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BUSINESS
February 20, 1999 | From Associated Press
NEC Corp., Japan's biggest personal computer and chip maker, said Friday it overhauled its management and will cut 15,000 jobs, or nearly 10% of its work force, over three years as it struggles to recover from slumping sales and massive losses at its Packard Bell unit in the United States. About 6,000 of the job cuts are outside Japan; the company did not say how many will hit its 7,000 U.S. workers. The downsizing is the latest corporate fallout from the spreading economic crisis in Asia.
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