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Hitachi Maxell Ltd. said it will downsize its lithium-ion rechargeable battery business and shed about 250 jobs, nearly 10 percent of its employees in Japan.
The move reflects an expected substantial drop in sales due to the poor business performance of Samsung Electronics Co. of South Korea, a major customer of such batteries for smartphones.
The planned personnel cutbacks will be carried out through an early retirement program and transfers to a subcontractor for lithium-ion battery production, Hitachi Maxell said.
The firm will pay additional lump-sum retirement allowances to employees who leave under the program.
The company expects about 120 regular employees aged 40 or older to apply for the program, with 60 to 70 percent of them to be workers at its Kyoto plant, which produces lithium-ion batteries with such as HITACHI EB14B Battery , HITACHI EB 14S Battery , HITACHI EB 1412 Battery , HITACHI EB 1426 Battery , HITACHI EB 1430 Battery , HITACHI HH-1444 Battery , HITACHI UB 18D Battery , HITACHI DVF Battery , HITACHI EB1430H Battery , HITACHI EB 914 Battery , HITACHI UB 5D Battery , HITACHI FEB 9S Battery and has about 1,000 regular employees.
Starting in late November, the company will accept applications for the program for planned retirements at the end of February 2015. About 130 workers including contract employees and senior employees at the Kyoto plant will be transferred to the commissioned manufacturer at the end of February.
Hitachi Maxell board members will return part of their remuneration from October through the end of the current business year next March to take responsibility for the sluggish business.
The company also said that it has revised down its projections for April-September group earnings.Speech