Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Hitachi to Restructure Home Appliance Operations
Jul 23, 2003
 Printable format
 Email this Article
 Search

Hitachi Ltd. said Wednesday it will carry out restructuring steps at its home electric appliance unit, including job cuts and a reorganization of the unit's group companies.

The unit, Hitachi Home & Life Solutions Inc., plans to trim its parent-based employees by about 400, or 10 percent, via early voluntary retirement programs to be offered from September to the end of this year.

Hitachi also plans similar restructuring schemes at the unit's group companies, but details are undecided, a Hitachi spokeswoman said. Hitachi Home & Life's group-based work force is currently around 16,400.

The move reflects the prolonged severe situation in the domestic home appliance market, where product prices have been continuously falling amid deflationary pressure and sluggish consumption, Hitachi said. In addition, the company said it doesn't expect strong growth in domestic demand for such products as air-conditioners and refrigerators.

Hitachi Home & Life will merge two units engaged in the production of home gadgets next April, while it has decided to liquidate one unit making motors used for well pumps.

In April 2002, Hitachi spun off its home appliance operations and created the new unit Hitachi Home & Life to better cope with the tough business climate, but the unit fell into the red in its first business year. (Dow Jones)

Back to Daily News

 

Daily News

...........................................................

Jul 25, 2014: Whirlpool Refrigerator is First Commercial Application of Polyurethane Insulation Using HFO Blowing Agent

Jul 24, 2014: Remodeling Spending to Be Slower, But Still Strong, in Early 2015

Jul 23, 2014: Whirlpool North America Reports Record Operating Profits

Jul 23, 2014: Japan Destroyed 3.6 Million KG Fluorocarbons from Commercial Refrigerators and AC

Jul 22, 2014: Lennox International Reports Record Profit in Second Quarter

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

March 2014: Market Research - 62nd Annual U.S. Appliance Industry Forecast
February 2014: Appliance Magazine Market Insight: December 2013
January 2014: Market Research - Appliance Historical Statistical Review: 1954-2012
January 2014: Appliance Magazine Market Insight: November 2013




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Pharmalive | Plastics Today | Powder Bulk Solids | Canon Trade Shows