Japan Display to Slash 1,000 Jobs

Economy

Tokyo, May 15 (Jiji Press)--Japan Display Inc. <6740>, a maker of small and midsize display devices under business rehabilitation, announced Wednesday a plan to retrench 1,000 jobs in the nation.

The job cut, to be carried out under a voluntary redundancy program, is aimed at reducing fixed costs on the assumption of a capital injection of up to 80 billion yen from a China-Taiwan consortium.

Suwa Consortium, formed by Taiwanese touch screen maker TPK Holding Co. and Chinese and Taiwanese investment funds, has postponed the decision to put money into JDI, previously set to take place in the middle of June.

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