Panasonic expects more than 1,000 job cuts

TOKYO, 25 SEPTEMBER – A reduction of more than 1,000 jobs for Panasonic through classic early retirement plans. The Japanese media anticipate this – citing sources familiar with the dossier, in line with the corporate restructuring program underway, which provides for a transformation of the company name into a holding company for the consumer electronics company, starting from next April. The more than one thousand employees who have a seniority of at least 10 years – and who will adhere to the offer – make up about 1% of the 100 thousand employees in Japan. In the fiscal year ended March, Panasonic recorded sales of less than 7 trillion yen (53 billion euros) for the first time in 25 years, due to the drastic downsizing of consumption due to the coronavirus pandemic. The crisis has recently affected other Japanese manufacturing companies, including carmaker Honda – which offered early retirements to around 2,000 people last August, and camera company Olympus, implementing a similar scheme in February for 840 employees. (HANDLE).

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