Mitsubishi forced to scrap 2,000 jobs

Semiconductor sales-slump causes turmoil...

Mitsubishi Electrics has been forced to make 2,000 jobs cuts in its chip making units as demand for semiconductors continues to slide. The company will reduce its chip making workforce from 11,000 to 9,000. Mitsubishi had warned in recent months that job cuts were inevitable but on Tuesday the company said weakening market conditions forced it to make the move sooner than expected.