Nikon to axe staff, downsize in Singapore
JAPANESE camera and precision equipment maker Nikon Corp is cutting 1,000 jobs worldwide but no staff will be axed here although it will downsize its small Singapore unit.
It will lay off 800 out of its 2,900 Japanese manufacturing staff and 200 from the 1,700-strong workforce employed in overseas marketing and servicing and domestic servicing.
The firm also announced on Tuesday that it will downsize its unit here and move some of the business to Taiwan.
But only a ’small part’ of the business here will move, said a manager at its Singapore office on Tuesday.
Nikon said the job cuts are aimed at reducing annual costs by about eight billion yen (S$122 million).
Earlier this month, it forecast a net loss of 17 billion yen for the business year to next Mar 31.
Nikon said the hefty job cuts are built around overhauling its operations that make devices used in producing semiconductors.
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