The Japanese electronics giant NEC announced today that it will cut 20,000 jobs worldwide after posting a fourth-quarter loss of $1.45 billion, reports the Wall Street Journal. NEC's losses ballooned as demand fell for its semiconductors and chips, and the strength of the yen further hurt its bottom line. A Japanese business daily reported today that NEC is now in talks with Toshiba to combine their chip operations, although the company did not confirm the report.
(More NEC Corporation stories.)