Hitachi Layoffs Job Cut: fires 7000 employees: Finance Trading Times

Hitachi Layoffs Job Cut: fires 7000 employees

It was recently NEC laypoffs, Japanese Electronics giant which went for a massive layoff. Now, another Japanese electronics firmHitachi, has decided to go for big round of Hitachi Lay offs or Hitachi Job Cuts. Unfortunately the situation is worsening further for the electronics market and Hitachi is feeling the heat. The economic crisis is hitting all sectors and all the sectors are getting affected.Hitachi Layoffs

How many employees may be fired by Hitachi layoffs?
The news is that around 7000 employees may be asked to leave their jobs at Hitachi. This is a global layoff.

How many employees does Hitachi have?
No information is available about the total no. of Hitachi employees.

Which locations will be affected by the Hitachi Layoffs?
THis is going to be a global layoff at multiple locations across the world. No specific info is provided by the company as of now.

Which departments will be affected by the Hitachi Layoffs?
The auto equipment and electronics division have been the worst hit and hence the layoffs are expected in these departments.

How much savings can be made by Hitachi Layoffs?
No information is there about this latest job cut saving

When will the Hitachi layoffs happen
No information is available about the dates of Hitachi layoffs.

What are the primary reasons of Hitachi Layoffs
The worsening global economy means that there is a decline in sales and businesses and hence loss of revenue for Hitachi. These layoffs are being justified as preparation for a possible decline in revenue. The electronics and engineering group forecast a loss of 700 billion yen (7.83 billion dollars) in the year ending March 31. It previously expected a net profit of 15 billion yen.

Any other news about Hitachi?
As per RetrenchementBlog,The company also said it will streamline fixed costs by some 200 billion yen in the year to March 2010, mainly in its digital media and auto equipment divisions.
For the three months to December, Hiatchi reported a net loss of 371 billion yen, compared with a net profit of 12.5 billion yen a year earlier.
Let's hope that alternative jobs are available to the affected employees of Hitachi Layoffs Job Cut
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