Toshiba is the latest company to get hit where it hurts in the industry downturn.
The company yesterday said it would have to lay off 12,000 workers in its semiconductor division for up to four days over the next two months in an effort to cut costs.
Each worker will have to take a ten per cent pay cut whilst idle, the company said.
The lay offs will affect three of Toshiba?s four chip Japanese plants in Himeji, Yokkaichi and Oita, but will not affect output targets the company said.
Toshiba said the moves were necessary because of poor industry conditions for the DRAM market.
The company?s fourth plant at Kyushu will not be affected because it is running at 80 per cent capacity anyway.
Just last month the company said that it was expecting an operating loss of $908.2m.
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