Tokyo - Fujifilm Holdings Corp on Thursday announced a planned transfer of 5,000 employees working abroad as it suffered profit declines in fiscal 2008 and expected a loss in the current fiscal year.

Fujifilm saw its net profit plunge 90 per cent during the year that ended March 31 to 10.52 billion yen (108.6 million dollars), while its operating profit tumbled 82 per cent to
37.29 billion yen. Sales were down 14.5 per cent to 2.43 trillion yen.

The firm plans to cut personnel costs by transferring or dismissing 5,000 workers in affiliated businesses based overseas, as well as restructuring the sluggish film-production segment.

For the current fiscal year that began April 1, Fujifilm expected a net loss of 60 billion yen.