UPDATE 1-Sumco to cut 1,000 jobs, close 2 plants - Nikkei
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Feb 2 (Reuters) - Sumco Corp, the world's second-largest producer of silicon wafers for semiconductors, plans to cut more than 1,000 jobs and close two factories, citing poor demand for semiconductors used in televisions and personal computers, the Nikkei business daily said.
Sumco will also consolidate its main facility in Saga Prefecture, at its Taiwanese plant and elsewhere, to hike factory utilization rates, Nikkei said.
As a result of the streamlining, the company will see its roughly 9,000-member workforce decline by more than 10 percent, the daily reported.
The closing will force the company to book a loss of about 100 billion yen ($1.31 billion) leading to a massive net loss and reduced net worth, the report said.
Sumco aims to raise 50 billion yen in new capital and it is in negotiations with top shareholders Mitsubishi Materials Corp and Sumitomo Metal Industries Ltd, with each owning 27.8 percent stakes, the Nikkei said. ($1 = 76.1300 Japanese yen) (Reporting by Sunayan Bhattacharjee in Bangalore; Editing by Gopakumar Warrier)
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