Fujitsu announces global job cuts

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Tokyo--Citing the slump in information technology, Japanese chip and computer conglomerate Fujitsu Ltd. said Monday that it would cut 16,400 jobs, or about 10% of its global workforce. Fujitsu, the world's third-largest flash memory chipmaker and Japan's second-biggest personal computer maker, said it would slash 11,400 jobs abroad and 5,000 in Japan by next March. Fujitsu said the job cuts would help it generate an operating profit of 400 billion yen, or about $3.3 billion, in the fiscal year ending March 2004, against an operating profit of 80 billion yen, or $66 million, forecast for this fiscal year. The company said it would focus its resources on software and services, aiming to secure stable profits in the long-term, even if growth stalls in the global info-tech sector.
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