10'000 to go at NEC

NEC Corp announced in its latest fiscal report that it would cut 10'000 jobs worldwide: in Japan 7'000 positions (incl. external resources) will have to go, Overseas locations will see 3'000 job losses (in accordance with the review of manufacturing operations). The Japanese company warned it would post a net loss of 100 billion yen for the year (ends: March 31, 2012). A stark difference to the forecast 15 billion yen in profit. For the last quarter NEC posted a net loss of 87 billion yen.