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| Fujitsu unit to cut 1,200 UK jobs | Fujitsu unit to cut 1,200 UK jobs |
| (10 minutes later) | |
| The IT services unit of electronics giant Fujitsu has said it will cut up to 1,200 jobs in the UK because of the economic downturn. | The IT services unit of electronics giant Fujitsu has said it will cut up to 1,200 jobs in the UK because of the economic downturn. |
| The job cuts will be completed by the end of the year, the company said. | The job cuts will be completed by the end of the year, the company said. |
| "Action is necessary to ensure that the company remains competitive in the current difficult global economic climate," it added. | "Action is necessary to ensure that the company remains competitive in the current difficult global economic climate," it added. |
| Fujitsu said it currently employs 12,500 people in the UK. It previously implemented a company-wide pay freeze. | Fujitsu said it currently employs 12,500 people in the UK. It previously implemented a company-wide pay freeze. |
| The company said the company had to cut these jobs because of lower-than-expected revenues in the UK. | |
| It has been hit by companies cutting back on IT spending due to the recession. | |
| In May, the UK unit said it was planning to close its final-salary pension scheme to existing staff in the UK. | |
| The group as a whole had revenues of 4.6tn yen ($47bn) for the financial year to March. | The group as a whole had revenues of 4.6tn yen ($47bn) for the financial year to March. |
| It recently revised upwards its profit forecasts for 2009. | |
| Fujitsu now expects net income of 15bn yen for the first six months of the year, up from the 55bn yen loss it said it expected in July. |