Nikon will reduce the workforce in a slump in camera companies

Tokyo: Nikon Corp. plans to reduce about 2,000 employees, or 10% of its total workforce, due to a slump in the nuclear camera business, Nikkei reported.

Its business was also affected by the performance of Intel Corp., one of Nikon’s mainstays in semiconductor hardware, the daily reported, without saying where the information was obtained.

In the company’s reform agenda announced on November 5, Nikon outlined a plan to move its camera production to Thailand and halt domestic production. The firm is considering reducing its sales force, the newspaper said.

Nikon posted an operating loss of 26.1 billion yen ($ 251 million) for the second quarter compared to analysts’ estimates of a loss of 20.3 billion yen.

Source: Gulf News

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