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Article: JAPAN'S AMADA GROUP EYES QUICK RECOVERY WITH 500 JOB CUTS.
- Article from:
- AsiaPulse News
- Article date:
- July 22, 2002
CopyrightCOPYRIGHT 2002 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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TOKYO, July 22 Asia Pulse - Amada Co. (TSE:6113) announced Friday a restructuring plan calling for reducing its domestic group payroll of 5,000 by 500 employees and consolidating subsidiaries whose businesses overlap, aiming to rapidly boost profitability.
The leading maker of sheet-metalworking machines and forging presses expects its second straight group net loss in the current year through March 2003, due to weak capital investment mainly by IT-related firms.
Amada will in August try to persuade employees who have been with the group for at least ...
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