Published in News

Panasonic to slash 40,000 jobs

by on28 April 2011

Over two years
Panasonic is reportedly planning to slash as many as 40,000 jobs over the next two years.

Reuters claims that the company was forced to undertake a major restructuring plan in an effort to slash operating costs. Panasonic is also facing stiff competition from Korean and Chinese consumer electronics companies.

Panasonic currently employs about 385,000 souls and it has seen its profits and revenue dwindle in recent quarters.

More here.


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