Struggling appliance maker Sanyo Electric Co. said Friday it expects to post a net loss of 50 billion yen for the 2006 business year instead of a 20 billion yen profit, and it will cut 2,200 more jobs by the end of March.

The company said it will cut 1,500 local workers and 700 overseas to reduce its annual payroll by 17 billion yen in the 2007 business year, which begins April 1.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.