Panasonic announces it will cut 10,000 jobs and sell more assets
This was confirmed in a press interview with the chief financial officer of the Japanese technology company, Hideaki Kawai, who has said that cutting these 10,000 jobs will be by the end of March 2013, and that the measure part of its efforts to cut costs and return to profitability.
And the company is going through a tough economy, with losses of 812,800 million yen (USD $ 10,200 million) for the last fiscal year, a loss worse than was predicted then …
Recall that a few months after announcing these figures, Panasonic explained that it would undertake a restructuring plan that would involve cutting between 3000 and 4000 jobs at its headquarters in Japan and include early retirements and relocations to subsidiaries: The company has in total of about 100 000 employees in the country, 7,000 of whom work at the headquarters of the company, so we are talking about a reduction of about 50 percent, by then we tell here .
Now Kawai said, as quoted by Europa Press that Panasonic plans to divest assets worth 110 billion yen by the end of March, mainly land and buildings in Japan, and said that the next fiscal year could be more asset sales If the firm requires strengthening its cash flow … Will they succeed?
It is a difficult time for the Japanese giant, which apparently seen is paying the consequences of not knowing how to adapt to the times, lagging behind its competitors in terms of tempting offers to users that we are demanding today. For example, let’s do a quick exercise of memory and a single poll: What was the last Panasonic product you bought, and when was that purchase?
Link: Panasonic will cut 10,000 jobs over (Europa Press)Tags: Assets, economic problems, Japan, Japanese, layoffs, Panasonic, Sale, trimmings