Sanyo Electric Co. said Tuesday it will cut 14,000 employees, or 15 percent of its global workforce, as part of a sweeping restructuring plan under new management headed by Chief Executive Officer Tomoyo Nonaka.
The cutback was bigger than expected, as media reported last week that the Moriguchi, Osaka Prefecture-based company would cut about 10,000 jobs, or 10 percent of its worldwide workforce.
"We will trim unnecessary, behind-the-times DNA," Nonaka, a former journalist, said at a news conference at Sanyo's headquarters televised live to the company's Tokyo office, adding no sacred cows would be spared.
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