NEC Corp said on Thursday it aims to shed 10,000 jobs by the end of September, and would fail to reach a target to raise sales to 4 trillion yen ($51.13 billion) by March 2013.
The job cuts, which will mean shedding almost one in 10 of its workers, are to trim costs after the electronics maker announced a loss of 87 billion yen ($1.11 billion) for the three months to December 31.
The company, which employs 115,840 people worldwide, said it will book a 40 billion yen charge in the business year ending on March 31 to pay for the restructuring.
It blamed its poor performance on tougher competition in the telecoms infrastructure business in Japan from foreign rivals, weak demand for its smartphones and difficulty in expanding operations overseas.
($1 = 78.2250 Japanese yen)
(Reporting by Reiji Murai, writing by Tim Kelly; Editing by Michael Watson)