On 31 October, the Japanese electronics manufacturer TDK has announced to cut 11,000 jobs around the world (12 per cent of its workforce). The Japanese company will also sell its organic light-emitting diode display business. TDK's workforce reductions are scheduled to begin as early as this fiscal year. The management has not yet given details on which countries will be affected by the job losses.

TDK stated that it has to make face to a dramatic decrease of 74 per cent of its net income in the past six month due to the strengthening yen, the earthquake and tsunami in Japan and the most recent floods in Thailand.