TDK Corp. reversed its full-year profit forecast to a loss Thursday, citing declining demand and rising restructuring costs, and announced 8,000 additional job cuts.

The net loss will probably be ¥28 billion in the year to March 31, the world's largest maker of magnetic heads used in disk drives said. That compares with the ¥25 billion net income TDK projected in October and profit of ¥6.73 billion according to the median of 15 analyst estimates compiled by Bloomberg before Thursday.

Tokyo-based TDK said the revised projection was partly due to declining demand amid the global economic slump and ¥20.3 billion in reorganization costs, including cutting additional jobs overseas, shutting production plants and discontinuing unprofitable products.

"Starting in November, demand for electronic components in all markets dropped significantly, followed by an even more precipitous fall in December," President Takehiro Kamigama told reporters.

TDK in October said it will reduce its 50,000-strong China workforce by up to 34 percent due to rising labor costs there.

TDK makes all its magnetic heads for hard-disk drives in China.

TDK will reduce its temporary workers in the country by 15,000 within six months to a year through voluntary retirement, natural attrition and contract expiration, Chief Executive Officer Hajime Sawabe said at the time. TDK will also cut as many as 2,000 administrative employees, he said.

TDK fell 7.9 percent to close at ¥3,500 Thursday on the Tokyo Stock Exchange. The company made the announcement after markets closed.