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Thursday, Aug. 30, 2012

2,400 at NEC take early retirement


NEC Corp. says 2,393 employees have applied for voluntary retirement after the information technology company offered the program in July as part of its restructuring efforts.

The early retirement, effective Sept. 28, will allow the computer and cellphone maker to achieve its aim of slashing around 10,000 workers worldwide by the end of September, as it has already decided to cut some 8,000 temporary employees and overseas workers.

NEC solicited the early retirements between July 17 and 31 among employees 40 and older who have been with the company or a group firm at least five years.

Those taking the package will receive special bonuses in addition to retirement benefits.

The company said it will report ¥2.9 billion in related costs for the program in fiscal 2012.

NEC has been accelerating efforts to reduce personnel after it incurred a group net loss of ¥110.27 billion in fiscal 2011, falling deeper into the red from the previous year's loss of ¥12.52 billion.

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The Japan Times

Article 9 of 11 in Business news

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