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Sunday 22 October 2017
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Smartphone display maker Japan Display to cut 30% workforce

Report: Rakesh Sinha
Published : Wednesday 09 August, 2017 09:31 PM
Smartphone display maker Japan Display to cut 30% workforce

On a recent press-conference on Wednesday CEO of Japan Display Nobuhiro Higashiiriki said it would slash 3,700 jobs, or about 30% of its workforce, as the struggling smartphone screen maker's chief executive warned it was the "last chance" for a turnaround.

Citing intense competition, the Tokyo-based company said it would cut 3,500 positions at overseas assembly plants and another 240 jobs from its payroll in Japan.

The job cuts, which represent nearly 30% of the 13,100-strong workforce, are expected to save 50 billion yen ($455 million) annually, it said, adding that total restructuring costs would be about 170 billion yen.

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