Nikon Announces Cuts
After recently reporting a profit of JPY 28.1B for the year ended March 31, 2009, Nikon Corp does not expect to be as fortunate the next time around. In addition to its forecast of a JPY 17B net loss for fiscal 2010, the camera maker announced that it will trim 1000 jobs from its global workforce of 4600, and put plans for future growth on hold. Nikon will also merge four of its Japanese manufacturing subsidiaries into two units in an effort to save a total of JPY 8B in fixed costs over the next three years.