Apple supplier Japan Display mulling cutting around 1,000 jobs: Nikkei
Written by MagaFirstNews on May 15, 2019
FILE PHOTO: Japan Display Inc’s logo is pictured at its headquarters in Tokyo, Japan, August 9, 2016. REUTERS/Kim Kyung-Hoon/File Photo
May 15, 2019
TOKYO (Reuters) – Apple Inc supplier Japan Display Inc is considering slashing about 1,000 jobs, or about a fifth of its parent-only workforce, as it eyes a bailout from a Chinese-Taiwanese consortium, the Nikkei business daily reported on Wednesday.
The struggling smartphone screen maker is expected to announce restructuring measures along with its full-year earnings at 3 p.m. (0600 GMT).
On Monday, it said the Chinese-Taiwanese group was delaying an up to 80 billion yen ($730 million) investment in order to reassess the company’s prospects.
A Japan Display spokesman declined to comment on the Nikkei report.
(Reporting by Makiko Yamazaki and Chang-Ran Kim; Editing by Stephen Coates)