Kyocera Announces Work Force Cuts
September 4, 2001
Kyocera Corp. will cut 20% of its global work force, or 10,000 overseas employees, by the end of this year, the ceramics and electronics maker said recently. A company representative said part of the planned cuts had been completed and the company has no plans to reduce its Japanese staff. The drastic restructuring comes after the Kyoto, Japan-based company substantially slashed its earnings forecasts for this business year through March 2002, citing weaker-than-expected sales of electronic parts. The company has a total group work force of about 51,000. Kyocera declined to give the reduction numbers by region.