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Electronics Production |
TDK to lose 11'000 employees
TDK has announced today it will reduce approximately 11,000 employees in its global workforce, among other cost-cutting measures.
At a presentation of Q2 results for the fiscal year ending March, CEO Takehiro Kamigama announced that TDK will cut its global workforce by 11,000 in a round of cost-cutting measures.
Other measures include the sale of its organic EL display business, reduction of fixed costs and the divestment of utilized assets globally.
The company earlier reported a 74.3 percent drop in fiscal first half net profit from a year earlier to 6.7 billion yen ($84.4 million.
