/>
X

Panasonic plans massive job cuts

Panasonic is to cut thousands of jobs by the end of next year, the Japanese electronics giant said on Thursday.Panasonic intends to reduce its headcount to 350,000 by the end of 2012, company president Fumio Ohtsubo said.
david-meyer.jpg
Written by David Meyer, Freelance reporter on

Panasonic is to cut thousands of jobs by the end of next year, the Japanese electronics giant said on Thursday.

Panasonic intends to reduce its headcount to 350,000 by the end of 2012, company president Fumio Ohtsubo said. However, reports differ as to how many jobs will go. According to a Reuters report, Panasonic currently employs around 385,000, suggesting a headcount reduction of around 35,000. Bloomberg has the figure at 17,000.

According to Bloomberg, Ohtsubo is trying to get Panasonic ahead in the solar panel and rechargeable battery markets, as its TV business is facing increasing competition. He has previously cut 29,000 jobs at the company as part of his restructuring drive.

Related

Delta Air Lines just made an embarrassing announcement (you may be livid)
screen-shot-2022-06-22-at-3-50-54-pm.png

Delta Air Lines just made an embarrassing announcement (you may be livid)

Business
On July 12, we'll see the universe like never before
51656393132-ca88bc21e3-k

On July 12, we'll see the universe like never before

Space
US weather, climate forecasting is about to get way better
screen-shot-2017-09-07-at-1.jpg

US weather, climate forecasting is about to get way better

Innovation