Japanese electronics maker Sanyo has said it will cut 15% of its workforce or more than 14,000 jobs in the next three years in a bid to return to profit.
Currently the company has some 96,000 employees. It said it would aim to slash costs by $630m and close or sell 20% of its factories in Japan.
Sanyo has seen its profits slide due to intense competition in digital cameras and suffered damage to its chip-making plant in an earthquake last October in central Niigata province.
