Panasonic says it might cut 8,000 jobs


Thu, Nov 15, 2012 - Page 13

Panasonic Corp yesterday said it may cut 8,000 jobs as part of a corporate overhaul aimed at shoring up its bleeding balance sheet, after suffering a credit rating downgrade this month.

The struggling Japanese electronics giant has already cut its workforce in the first half of the fiscal year to March by about 8,800 employees, which included some scheduled retirements, a company spokesman said.

This leaves a global total of 322,000 employees.

“We are considering reducing around 8,000 jobs in the second half of the year in a new step as part of our structural reform,” the spokesman said.