Apple supplier Japan Display mulling cutting around 1,000 jobs: Nikkei

Written by on May 15, 2019

FILE PHOTO: Japan Display Inc's logo is pictured at its headquarters in Tokyo
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)

Source: OANN

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