Fujitsu Fires 5,000 People, Merges LSI Chip Division with Panasonic
The economy being what it is, companies need to work together
Job cuts are never fun to read about, or write about, but they seem to be happening quite often these days.Fujitsu is the one that will soon start sending pink slips every which way.
It has decided to merge the LSI Chip design and R&D division with Panasonic.
The resulting joint venture will be funded by the state-run Development Bank of Japan, provided that the two corporations get the approval.
Fujitsu also means to transfer a state-of-the-art LSI fabrication line from central Japan to a new foundry venture with TSMC (Taiwan Semiconductor Manufacturing Company).
Coupled with the need to save money, 5,000 jobs will be cut by March 31, and another 4,500 workers will be moved to other divisions.
As the Japanese company's chip dominance wanes, Fujitsu is looking at other outlets, like transferring files just by filming the PC screen.
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