*NEWS*EPSON LAYS-OFF ANOTHER 3000 WORKERS

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*NEWS*EPSON LAYS-OFF ANOTHER 3000 WORKERS

 user 2006-03-16 at 11:38:00 am Views: 71
  • #14840

    Seiko Epson Widens Loss Forecast to 23 Billion Yen
    March
    06 — Seiko Epson Corp., the world’s second-biggest printer maker,
    widened its full-year net loss forecast to 23 billion yen ($196
    million) from 14 billion yen citing a charge for reorganizing.
    Seiko
    Epson maintained its sales, operating profit and current profit
    forecasts for the year ending March 31, according to a statement filed
    today to the Tokyo Stock Exchange.
    The Suwa, Nagano-based company on Jan. 27 said it would cut its workforce in Japan by 11 percent over three years.
    Shares
    of the company today rose 75 yen, or 2.6 percent, to 3,010. It
    announced the wider loss forecast after the close of regular trading.

    Seiko Epson’s medium-term business plan includes 3,000 job cuts
    (Kyodo)JAPAN
    Printer manufacturer Seiko Epson Corp. announced Thursday a medium-term
    business plan that includes cutting 3,000 jobs, mainly part-time and
    contract workers, over the next three years.
    The company said it
    aims to reduce fixed costs and increase business efficiency as it has
    been seeing declining profitability due to falling prices for its
    mainline products of printers and liquid crystals.
    The plan also includes eliminating 100 full-time positions from its information technology equipment business in Europe.
    In
    Japan, Seiko Epson will reduce the scale of its office in Nagano
    Prefecture that produces small liquid crystals and transfer the
    business to Hokkaido.
    Seiko Epson will also narrow the lineup of its
    printers to sell only high profit-margin products, while consolidating
    its semiconductor manufacturing bases.
    By implementing those plans,
    Seiko Epson expects its group pretax profit to rise to over 100 billion
    yen in the year through March 2009 from a projected 26 billion yen in
    fiscal 2005 that ends March 31.