NEC Poised for Company-Wide Reorganization.
To offset restructuring-related losses of as much as 100bn yen, NEC plans to sell stock and other assets, possibly even its headquarters building in downtown Tokyo, the paper said. NEC posted a record group loss of 157.9bn yen in the year ended March 31, citing poor sales in its PC and chipmaking business. To soften the blow, in February, the company announced a reshuffling of its top management and said it would 10% of its workforce over the next three years.
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|Date:||Sep 13, 1999|
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