Nikon to cut down jobs on slump in camera business


Nikon Corp. is making plans to reduce about 2,000 employees, or 10% of its total workforce, due to a slump in its core camera business, Nikkei reported.

Its business was also impacted by the performance of Intel, one of Nikon’s key clients of semiconductor equipment, the daily reported, without saying where it got the information.

In the company’s reform agenda announced on 5 November, Nikon outlined a plan to move its camera production to Thailand and discontinue domestic output. The firm is considering cutting its salesforce, the paper said.

Nikon posted an operating loss of ¥26.1 billion (R3.9-billion) for the second quarter compared to analysts’ estimates of a loss of ¥20.3 billion. 

Main Image: TechRadar

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