Nikon to cut workforce on slump in camera business

Nikon to cut workforce on slump in camera business

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Tokyo: Nikon Corp. 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 Corp., 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 Nov. 5, Nikon outlined a plan to move its camera production to Thailand and discontinue domestic output. The firm is considering cutting its sales force, the paper said.

Nikon posted an operating loss of 26.1 billion yen ($251 million) for the second quarter compared with analysts’ estimates of a loss of 20.3 billion yen.

20200221101654 Nikon to cut workforce on slump in camera business
Original news source Credit: gulfnews.com



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