Tokyo (Japan) - Today, NEC posted its quarterly financial results for the period ending December 31, 2008. Amidst at twenty-five fold increase in loss, to -130.8 billion yen (-$1.46 billion) from -5.2 billion yen a year ago, NEC also announced it would be cutting up to 20,000 workers worldwide.
For the nine months ending December 31, 2008 (first three quarters of fiscal year), NEC has seen its net assets decrease by 17.1% to 982.4 billion yen (down from 1185.5 billion yen), and its net loss per share increase to 64.62 yen (from 2.62 yen a year ago).
See NEC's press release (in English). AP is reporting the 20,000 worldwide layoff. See the original AP article republished on Yahoo News.
For the nine months ending December 31, 2008 (first three quarters of fiscal year), NEC has seen its net assets decrease by 17.1% to 982.4 billion yen (down from 1185.5 billion yen), and its net loss per share increase to 64.62 yen (from 2.62 yen a year ago).
See NEC's press release (in English). AP is reporting the 20,000 worldwide layoff. See the original AP article republished on Yahoo News.
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