Sanyo to axe 10 000

This reduction in workforce is two-thirds of job cuttings of 15 000 originally planned to take place by fiscal 2007. From the 10 000 about 1400 is going to be transferred from Sanyo's LCD joint venture with Seiko Epson Corp and 1500 is going to be cut from Sanyo's semiconductor business. "We chose this way, which will enable Sanyo's semiconductor business will survive even if the semiconductor business shrinks to 200 billion ¥ ($1.8 billion)", said Sanyo's president Toshimasa Iue.