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Radia to sell division, cut staff

March 04, 2009

Radia Holdings Inc., a Tokyo-based firm that provides staffing and other services, announced Monday it plans to sell its Premier Line Inc. manufacturing staffing business by June. The company also announced it plans to cut 4,000 reserve workers in its engineering divisions and 500 management staff by April 15.

Premier Line has 1,652 regular employees and 4,500 contract staff, the company reported.

Radia also announced executive pay cuts.

The company cited deteriorating economic conditions since the beginning of the year that show no signs of ceasing.

Radia was formerly the Goodwill Group Inc.