The hottest Japanese Prince paper will cut 17 empl

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Japan's Prince paper will cut 17% of its employees in four years

Japan's largest paper maker Prince paper company recently said that according to the revised medium-term operating plan, they will cut 17% of their domestic employees by March 2006, equivalent to 3600 people, that is, the number of employees will be reduced from 21300 at the end of March 2002 to 17700 in four years. The scale of this layoff is much larger than the 5% layoff set by the company last year, hoping that the company will inform the resumption schedule and restore the original wage level. Prince also hopes to cut costs and increase profits through the implementation of this plan. The company aims to achieve pre tax profit (excluding extraordinary items) of 100billion yen (800million US dollars) in

Japanese paper manufacturers are facing the problem of overproduction, and due to fierce competition and economic recession, some enterprises even directly promote and sell graphite as graphene without taking various measures to reduce the cost of the current popular automotive industry

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