More bad news for Takara Tomy Merger ...
Posted by Seibertron
Aug 25, 2005 at 5:26pm CDT
11,244 views
In a press meeting held yesterday, Japanese toy makers Takara and Tomy announced the first specific plans regarding business strategies after their merger on March 1, 2006. The two companies plan on reducing costs by 19 billion yen ($173 million) in the first three years after joining together as Takara Tomy. As a part of the cost cut, Takara and Tomy will lay off 15 percent of their combined workforce by next March, which accounts for 640 employees. Most of the layoffs will be on Takara's side, where there seems to be more redundancy in employee duties.
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