Type
Internal restructuring
Country
World
Region
Location of affected unit(s)
Sector
Manufacturing
Manufacture Of Computer, Electrical Electronic And Optical Products
Manufacture Of Electrical Equipment
27 - Manufacture of electrical equipment

7,000 jobs
Number of planned job losses
Job loss
Announcement Date
30 January 2009
Employment effect (start)
Foreseen end date

Description

Hitachi, an electronics and engineering Japanese firm, is to cut 7,000 jobs worldwide. The cuts were blamed on falling demand for automobiles, semiconductors and industrial machinery. The job losses will affect its car equipment and electronics divisions. The company has made an annual loss of £5.5bn and is planning to reduce the number of its subsidiaries to 700 from 910 by March 2010 as an additional cost-cutting measure.


Sources

  • 30 January 2009: BBC News

Citation

Eurofound (2009), Hitachi Ltd, Internal restructuring in World, factsheet number 68025, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/68025.