Hitachi to cut 550 jobs<\/p>\n
TOKYO (Reuters): Japan's biggest electronics maker, Hitachi
\nLtd, said on Friday it would cut 550 jobs at a Singapore unit and
\nmove the business to either China or Indonesia in a revamp of its
\nAsian color television operations.<\/p>\n
Hitachi, which like other Japanese electronics conglomerates
\nis struggling to cut costs in the face of tough price
\ncompetition, will also transfer vacuum cleaner production at the
\nSingapore unit to a factory in Thailand, a spokesman said.<\/p>\n
Hitachi estimated the cost to dismiss 550 workers at S$27
\nmillion ($14.8 million) but said the figure had already been
\nfactored into its earnings forecasts.<\/p>\n
It will transfer production of color televisions at the unit
\nto Hitachi's factories in China and Indonesia by September 2001,
\nseeking lower labor cost there, a Hitachi spokesman said.<\/p>\n
The company also decided to transfer color television product
\nmanagement and research and development capabilities from HCPS in
\nSingapore to its Asian controlling unit Hitachi Asia Ltd in
\nSingapore, it said.<\/p>\n
Hitachi has not yet decided future plans for the HCPS
\nSingapore unit or whether to produce other products there in the
\nfuture, the spokesman said.<\/p>",
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