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© 2011 AFPTDK to cut 11,000 jobs worldwide
TOKYO©2024 GPlusMedia Inc.
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© 2011 AFP
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paulinusa
12% is a huge number. The question is whether these layoffs are due to the current state of the world economy or is there a problem with TDK's products and business (autos and electronics) going forward.
jonobugs
It could be a mix of the world economy plus their factories being demolished...
tkoind2
Here's a question. Their net profit dropped, right? But are they still profitable?
Just once I would love to see companies take a different stance. For example deciding to keep people on, drop executive salaries first, then share the load required to keep people working rather than lay them off.
And I would love it if shareholders changed their thinking. Rather than expecting only profits from a company, what if we shareholders started thinking about the good citizenship of companies. Reward companies with our investments who show concern for community and choose other ways to get through hard times that do not involve laying people off. I would, even at the risk of some loss invest in this kind of company thinking.
This is what the Occupy movements world wide are really about. Keeping people at work and making companies share the burden of hard times with working people, rather than simply cutting jobs.
CrazyJoe
TDK stands for Tokyo Denki Kagaku. Cut the salaries by 12% and keep them employed.
herefornow
And the beat goes on. One day its Panasonic saying they are going to have a huge loss; then its Sony pulling out of its deal with Samsung; and, now its TDK letting 12% of its workforce go. Does anyone doubt that the hallowing out of Japan is gaining traction and some significant changes need to be made?
ironchef
How about TDK firing their management and then go from there? TDK as well as all these big companies screwing with people's livelihood..
Occupy Tokyo needs to kick it up!
minello7
This is a moral issue,if you aren't making a loss,why are the layoffs needed. Share holders should take the blame here,because if it wasn't for their greed and the pressure on CEO,s to turn huge profits for their benefits, layoffs would not be needed.
taj
ironchef, what is the income gap between the TDK management and TDK rank and file? How does that compare to, say, US-based corporation averages? (Please don't muddy the waters.)
ironchef
taj, who mucked up the company? probably the management and not the "rank and file" i am not talking about income gap but rather about responsibility and morality.
Ranger_Miffy2
Truely, the whole "quarterly profits for shareholders" is the bane of this planet. Will we survive it and move on to something sustainable? Great comments...how can we make them reality???
herefornow
minello and Ranger -- have either of you ever taken a business class? Without shareholders there are no companies. That's where the capital companies run on comes from. And just like banks who get paid interest, they are entitled to a return on their investment. And if companies don't make a profit they will not be able to raise funds in the future. Pure nonsense.