More bad news for Takara Tomy Merger ...

More bad news for Takara Tomy Merger ...

Thursday, August 25th, 2005 5:26pm CDT

Category: Site News
Posted by: Seibertron   Views: 10,404
Japanese toymakers announce cost-cutting strategies for their upcoming merger

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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Credit(s): cbff


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