Gee wiz, this government matchmaking between Japan’s NEC Corp. and Hitachi is not working out, is it?
The fact is that shotgun marriages seldom do work out well. More so when 40% of the workforce of the two companies were “rightsized” or outsourced since in the joint venture formed in 1999. The bad blood generated by the restructuring has been bad; however, the fact is that NEC and Hitachi needed to cut 80-90% of their workforce who do not perform any useful function at all…like me for example, hee, hee.
Elpida Shares Poised to Fall After Net Income Forecast Cut
TOKYOida Memory Inc., the world’s fifth-biggest maker of computer memory chips, were poised to fall after the company cut its annual profit forecast because of slowing sales growth at its customers…..the company, a venture established in 1999 between Japan’s NEC Corp. and Hitachi Ltd., reported net income of 3.39 billion yen in the three months ended Dec. 31, compared with a loss of 9.76 billion yen a year earlier.