Reported about 11 hours ago
Panasonic is set to reduce its global workforce by 10,000 employees, approximately 4% of its total staff, as the company faces a 17.5% drop in profits for the fiscal year ending March. Half of the job cuts will occur in Japan and the other half abroad, in an effort to streamline operations and respond to a slowing economy and decreased demand for electric vehicles. Despite the downturn, Panasonic remains optimistic about future growth in the electric vehicle battery sector.
Source: YAHOO