Published on April 29th,2011 at 10:55 AM
By >Andrew DAISH

Panasonic to axe 17,000 jobs

Panasonic to axe 17,000 jobs

The Japanese tech giant Panasonic has announced it will cut another 17,000 jobs in addition to the 18,000 job losses sustained by the company during the last business year. The proposed job cuts over the next two years will account for 5% of Panasonic’s workforce. Panasonic aims to lower its costs and remain competitive with other Asian rivals; reducing its workforce of 367,000 to 350,000, will make a total of around 35,000 Panasonic job cuts by March 2013.
The chief investment officer at Stats Investment Management in Tokyo, Toru Hashizume, said, “The figure is huge, but so is the company, and for an old-fashioned one like Panasonic, this is a big move.”

Once unequalled, Japan’s consumer electronic firms are now facing increasing competition from cheaper Korean and Chinese producers in particular. Panasonic, producer of Viera and Lumix ranges, is shifting its focus to environmental and energy- related businesses in order to lower competition from Samsung, LG and others in the consumer electronic business.

Panasonic said without the impact of the quake, its financial prediction for this year would have been for an operating profit of 310 billion yen.

Via Panasonic
Category Misc
              
Related Articles


 

0

TycooNet. TVB01 another “cheap” Windows Tablet to hit Japan

0

I-O Data had a new 3TB USB 3.0 External disk to its catalog.

Comments
 

 

0

Panasonic - Massager that relaxes your muscles and warms them gently

1

World's lightest and thinnest circuits pave the way for 'imperceptible electronics'

0

Panasonic - Smartphone-sized portable full body massager

0

Nestlé - KitKat - 2013 summer seasonal special flavors

0

Turn your iPhone 4/4s or 5 into a real pocket camcorder thanks to Donya

0

Japanese Technology from the Future Friday!

0

LG - Pink-colored model will be added to Pocket photo

3

Sharp - Electronic handwriting notebook that can save 2000 pages data

0

LG - Ultra-wide LCD monitor with a cinematic 21:9 aspect ratio

0

Panasonic – DMC-XS3 – Slim & classic designed Lumix camera

0

Panasonic - DMC-FZ70 - Lumix camera with the world's first 60X optical zoom

0

Japanese Robots: The Seemingly Least Cool Robotics Story of July is a Must-Read!

1

Sony - α58 - DSLR camera with interchangeable lenses

0

Thanko - 7.5mm biz card sized portable battery - Increased in battery capacity by 1200mAh over the previous model

0

JVC Kenwood - ADIXXION "GC-XA2" - dustproof, shockproof, waterproof, low-temperature resistant action camera

0

NTT docomo - Disney Mobile on docomo F-07E - Disney official smartphone