Panasonic takes 10,000 jobs worldwide in order to stimulate efficiency. Quoting the slowdown in the growth of electric vehicles and the deterioration of profits in the air conditioning sector as two of the challenges it is currently facing, the Japanese company will decrease staff during the current financial year, which ends in March 2026.
In a statement published today, it has been revealed that the structural reform will target 5,000 employees in the native country of Panasonic and 5,000 abroad. The company says it expects costs of 130 billion yen (around $ 900 million) due to the cuts. Panasonic said that he would “thoroughly examine the operational efficiency of each group company, mainly in sales and indirect services, and reassess the number of organizations and staff really needed”.
Following the reduction of his workforce and the reorganization of his consumer electronic activity, Panasonic aims to achieve an adjusted operating profit of at least 600 billion yen ($ 4 billion) during the financial year ending on March 31, 2027, but that does not take into account any potential impact of Trump prices.
Panasonic makes a variety of products, EV batteries that it provides Tesla, its cameras and televisions focused on the consumer. Panasonic televisions returned to the United States last year after an absence of 10 years, but the company would have indicated that it would be willing to leave the sector completely if it continues to underperform.
