TOKYO -- Nikon plans to eliminate about 1,000 jobs in Japan, or 10% of its domestic workforce, as the company shifts resources away from once core businesses to medical devices and other growth areas.Read the entire article on the Nikkei Asian Review.
The cuts over the next two to three years will mostly affect Nikon's money-losing semiconductor equipment operations and its shrinking digital camera business.
Nikon likely will offer early retirement to workers at facilities including its Kumagaya plant in Saitama Prefecture, northwest of Tokyo, which makes semiconductor lithography systems. Severance payments and other restructuring costs are expected to total hundreds of millions of dollars over two to three years.
Nikon is seen missing its forecast of a 64% jump in net profit to 30 billion yen ($287 million) for the fiscal year ending in March. Its net profit has fallen from a peak of 75.4 billion yen in fiscal 2007 to 18.2 billion yen last year.
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