TDK

Type
Internal restructuring
Country
World
Region
Location of affected unit(s)
Japan, other locations
Sector
Manufacturing
(26 - 27) Manufacture of electrical, electronic and optical products
26 - Manufacture of computer, electronic and optical products
26 - Manufacture of computer, electronic and optical products
11,000 jobs
Number of planned job losses
Job loss
Announcement Date
31 October 2011
Employment effect (start)
15 November 2011
Foreseen end date

Description

On 31 October, the Japanese electronics manufacturer TDK has announced to cut 11,000 jobs around the world (12 per cent of its workforce). The Japanese company will also sell its organic light-emitting diode display business. TDK's workforce reductions are scheduled to begin as early as this fiscal year. The management has not yet given details on which countries will be affected by the job losses.

TDK stated that it has to make face to a dramatic decrease of 74 per cent of its net income in the past six month due to the strengthening yen, the earthquake and tsunami in Japan and the most recent floods in Thailand. 

Sources

Citation

Eurofound (2011), TDK, Internal restructuring in World, factsheet number 72662, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72662.