Europe EditionJapan's Panasonic targets 10,000 job cuts worldwide
- Panasonic announced plans to cut 10,000 jobs globally by March 2026, affecting employees in Japan and overseas.
- The company attributes the cuts to efficiency reviews amid a challenging business environment, including slowed EV demand and economic uncertainties.
- The reductions will mainly target sales and indirect departments and include early retirements and operational closures to streamline workforce size.
- Panasonic expects these measures to cost about $900 million but aims to increase profits by over 150 billion yen through management reforms.
- CEO Yuki Kusumi expressed a heavy heart over the cuts and pledged to build a highly productive organization while returning 40 percent of his compensation.
99 Articles
99 Articles
Panasonic targets 10,000 job cuts worldwide
Japanese electronics giant Panasonic, which supplies batteries to Tesla, said Friday it will target 10,000 job cuts worldwide as part of efforts to boost profitability. The cuts, which represent around four percent of the group's workforce of nearly 230,000, will be implemented mainly in the current financial year to March,…
Panasonic Announces 10,000 Layoffs Worldwide
Japanese electronics manufacturer Panasonic plans to terminate 10,000 workers globally as part of a reform to resolve “structural issues,” the company said in a May 9 statement. The layoffs target 5,000 Japanese employees and 5,000 overseas workers at Panasonic’s consolidated companies. Job cuts are set to be implemented mainly in fiscal year 2026, “in accordance with the labor laws, rules, and regulations of each country and region.” “The compa…
The Japanese giant of Panasonic electronics, which supplies batteries to Tesla, announced Friday that it will cut 10,000 jobs worldwide. The cuts, which represent about 4% of the workforce of the group of almost 230,000 employees, will be carried out mainly in the current financial year until March, the company said. Of the 10,000 cuts, 5,000 will be made in Japan and the other 5,000 abroad. Panasonic, which manufactures from television sets to …
Panasonic has once been successful with televisions and video recorders. Now the boss wants to drastically rebuild the company.
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