Sanyo to shed 14000

Sanyo will reduce its workforce with 15%, or aproximately 14000 out of 96000 employees, due to weak sales performance.

The cut backs will be completed during 2008. Sanyo's goal is to cut down the total costs by 500 million Euros. Sanyo will also close or sell of 20% of its plants in Japan. Sanyo's sales has been lower than expected, also one of Sanyo's plants in Japan was affected of an earthquake during last year.