Hitachi (HIT +3.6%) says it plans to cut its annual costs by 5%, or $5.4B a year, by fiscal...

|About: Hitachi Ltd. ADR (HTHIY)|By:, SA News Editor

Hitachi (HIT +3.6%) says it plans to cut its annual costs by 5%, or $5.4B a year, by fiscal 2015. The company plans to consolidate some electronic-parts operations, use cloud computing to cut down on servers, and trim some employee benefits. It plans to use the funds on building its social infrastructure, telecommunications and other growth fields.