JAPAN: Clothing Firm Kosugi Sangyo Axes 120 Jobs
Leading Japanese apparel producer Kosugi Sangyo Co on Friday unveiled plans to axe 20 per cent of its workforce and sell a former Tokyo plant in a move to cut fixed costs and curtail interest-bearing debt. The firm said in a news release it plans to reduce its payroll from 520 to 420 by the end of next January by transferring some to subsidiaries and offering others an early retirement plan.
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