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Nikon's independent streak led to job cuts

TOKYO -- Nikon is drastically slimming down its once proud semiconductor equipment operation because the group's go-it-alone strategy couldn't cope with the shifting global technological landscape.

The Japanese tech company announced Tuesday that it will let go of about 1,000 employees. "We are taking decisive action on reforms now while finances are healthy," Nikon President Kazuo Ushida told reporters.

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