Panasonic is reducing 10,000 jobs worldwide in an effort to increase efficiency. Citing the deceleration in the growth of EV and the deterioration of profits in the air conditioning sector as two of the challenges currently facing, the Japanese company will make the cuts of the staff in the current financial year, which ends in March 2026.
In a statement published today, it was revealed that the structural reform will be directed to 5,000 employees in the native country of Panasonic and 5,000 abroad. The company says it hopes to incur costs of 130 billion yen (around $ 900 million) as a consequence of the cuts. Panasonic said that “it will thoroughly review the operational efficiency in each group company, mainly in sales and indirect departments, and will reevaluate the number of organizations and personnel really necessary.”
As a result of the reduction of its workforce and the renovation of its consumer electronics business, Panasonic aims to achieve an adjusted operational gain of at least 600 billion yen ($ 4 billion) in the financial year that ends on March 31, 2027, but impacts Tangsnt Tromsnnder Tant. Duty.
Panasonic manufactures a variety of products, from EV batteries that supplies to Tesla, to its cameras and televisions focused on the consumer. Panasonic TVS returned to the United States last year after an absence of 10 years, but the company has indicated that it would be willing to leave the sector completely if it continues to have a lower performance.