In fiscal year, NEC will lay off 20,000 people to deal with a state of emergency
On January 30 news, according to foreign media reports, Japanese largest personal computer maker NEC Group (NEC Corp.) will lay off 20,000 people, which creates a new record since the world entered an economic recession. In addition, the company lowered full-year performance to 3.2 billion U.S. dollars loss.
NEC Group President KaoruYano in Tokyo Friday said, half of this layoff would involve in full-time employees, which would be completed before the March 2010.
Toshiba announced to layoff 4,500 employees by the end of March
On January 30 evening news, according to foreign media reports, Toshiba said Thursday, as the financial crisis affected the demand for semiconductors and flat-panel TVs, the company plans to lay off 4,500 people.
Toshiba CEO said that in order to withstand the global economic crisis, the company would plan to cut down 300 billion yen (about 3.3 billion U.S. dollars) costs in the next fiscal year. Among which, the company would lay off 4,500 temporary contract workers in stalemated chip and semiconductor business.
Toshiba is the latest Japanese company which announces to lay off employees. The company said 2009 fiscal year, the company would reduce about 60% capital expenditure for chip business.
Under the financial crisis, where does globalization go?
In the financial crisis bringing about bursts of “cold”, the annual World Economic Forum kicked off yesterday. There were double peoples than that of the last year’s summit-level gathering in Swiss town of Davos figures, together discussing the road to break out of financial crisis and efforts “to build the post-crisis world.” Some people think that the global economy is at present experiencing the true crisis for the first time at the stage, since the economic globalization, then, for the financial crisis what it means for globalization?
A serious blow of the financial crisis in emerging economy
Xinhua News Agency, in Davos, Switzerland, on January 28th (Xinhua Chen Wenxian Shangjun)the world-renowned economists and business people who attended the Davos World Economic Forum Annual Meeting 2009, thought that the international financial crisis, the Western economic recession and trade protection, and others would have a severe impact on emerging economy.
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