Japanese Victor Co Ltd, JVC, says it will cut its workforce by 2,000 to help combat a huge loss this year: the prolonged slump in audio and video product demand at home and abroad has forced JVC to revise its group forecast to a current – operating loss of $292m for its fiscal year to March 31 next, far bigger than the $7.54m loss JVC had been projecting earlier this year; about 1,000 full-time employees are expected to leave through retirement and marriage and 600 more will be transferred to related companies; JVC also will not renew contracts due to expire at the end of March 1995 for 400 part-time workers; the total workforce stands at about 15,000 employees including 700 part-time workers, JVC said.
