Job Cut Costs to Affect PC Venture
Mar 13, 2003
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Fujitsu Siemens Computers Holding BV, a European
seller of PCs, said that its 2003 pretax profit probably fell 86 percent on costs related to job cuts. Pretax profit in the year ending March 31 will fall to 4 million euros (U.S. $4.4 million) from 29 million euros, said Adrian von Hammerstein, CEO, in Hannover, Germany. The full-year earnings include a 52 million euro charge to reduce the work force.

The joint venture between Siemens AG and Fujitsu Ltd. is cutting
jobs and trying to sell more computers to small and medium-sized
businesses rather than consumers as demand flags. The company
last year said it would eliminate 650 jobs out of a worldwide
work force of 7,700. (Bloomberg News)

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