Panasonic says it volition slash its planetary workforce by 10,000 people, fractional successful Japan and fractional overseas, to go a much efficient, “lean” company," The Japanese shaper said Friday that the occupation cuts, amounting to astir 4% of Panasonic's workers, wil...
ByYURI KAGEYAMA AP concern writer
TOKYO -- Panasonic volition slash its planetary workforce by 10,000 people, fractional successful Japan and fractional overseas, to go a much efficient, “lean” company, the Japanese shaper said Friday.
The occupation cuts, amounting to astir 4% of its 230,000 workers, volition see aboriginal status offers successful Japan and closures and consolidation of assorted operations, according to the Osaka-based shaper of location appliances, specified arsenic washing machines and refrigerators.
Panasonic besides makes star panels, transportation robots, facial designation technology, substance cells for homes and EV batteries for Tesla cars.
Also Friday, Panasonic reported a 17.5% driblet successful nett for the fiscal twelvemonth done March astatine 366 cardinal yen ($2.5 billion), down from 443 cardinal yen successful the erstwhile fiscal year. It income totaled 8.46 trillion yen ($58 billion), down 0.5% year-on-year.
The institution said the slowing planetary system and weaker request for electrical vehicles were a origin down its anemic results. But income of air-conditioners and user electronics products held up successful Japan, it said.
The company's main executive, Yuki Kusumi, told reporters his bosom felt dense successful announcing the occupation cuts. Panasonic did not notation U.S. President Donald Trump’s tariff policies arsenic a origin down its driblet successful profit.
Panasonic forecast that its nett volition amended by astatine slightest 150 cardinal yen ($1 billion) by the fiscal twelvemonth done March 2027, and by 300 cardinal yen ($2.1 billion) by the fiscal twelvemonth done March 2029.
That volition beryllium achieved done absorption reform, closure of unprofitable businesses and gathering a strategy that’s much responsive to changes successful the concern environment, officials told reporters.
But the turnaround volition instrumentality clip and nett volition gaffe further successful this fiscal year. For the fiscal twelvemonth done March 2026, Panasonic is projecting a 310 cardinal yen ($2.1 billion) nett connected 7.8 trillion yen ($54 billion) sales.
Panasonic said it remains bullish astir EV batteries and plans to proviso Japanese automakers Mazda Motor Corp. and Subaru Corp. successful caller strategical partnerships.
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Yuri Kageyama is connected Threads: https://www.threads.com/@yurikageyama
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