Hitachi to lose $2.2bn

Electronics maker Hitachi expects to lose more than $US1 billion ($2.28 billion) this year amid the worldwide economic downturn and is slashing 14,700 jobs, or 4.3 per cent of its work force, to cut costs.

The job cuts announced recently are the latest in a series of similar moves by Hitachi's rivals - Toshiba, NEC and Fujitsu.