124,000 jobs disappeared from listed corporations

As a result of fierce corporate restructuring, the number of workers in manufacturing companies listed on the Tokyo Stock Exchange has decreased by 123,786 in the past year.

Tokyo Shoko Research, Ltd., a private credit research firm, on March 14 reported that as of September 2002, the total number of workers in 940 listed corporations was 1,978,514, down 5.8 percent from September 2001, and that 746 companies reduced the number of employees in the process of corporate restructuring.

Toshiba Corporation tops the list with a cut of more than 9,000 personnel followed by electronic manufacturers such as Hitachi, Ltd., Matsushita Electric Industrial Co., Ltd., NEC Corporation, and Fujitsu Limited.

Tokyo Shoko Research predicts that these companies will keep on with this trend. (end)

Copyright (c) Japan Press Service Co., Ltd. All right reserved.