NSK Ltd. (Tokyo, Japan) has now issued an official press release outlining its business restructuring.

The restructuring and layoffs follow surprisingly poor first half results, compounded by a projected fiscal year loss of USD $61 million.

eBearing originally reported the NSK reorganization, layoffs and plant closing on November 22, after it appeared in the Japanese media. A few of the details differed, and thanks to input from NSK Public Relations, the article on eBearing is both accurate and quite detailed.