Hitachi cuts hit 20,000 jobs

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Hitachi, Japan's biggest electronics manufacturer, was poised to cut 20,000 jobs and move ahead with full-scale restructuring of its semiconductor operations, hit hard by this year's steep info-tech downturn, according to press reports.

Reuters reports the mass-circulation Yomiuri Shimbun newspaper says Hitachi is in "final stages" to decide to slash its total work force of about 340,000 by 20,000 and reorganize or consolidate its assembly plants for semiconductors at home.

Hitachi planned to cut its work force by reducing the number of recruits as well as voluntary retirement, Yomiuri said.

Hitachi had already announced plans to cut spending on semiconductor plants and equipment by 36.4 percent this business year.

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