Panasonic Announces 17,000 Job Cuts

[JMcEntegart]

Panasonic has announced a decision to cut 17,000 of its employees.

Panasonic Announces 17,000 Job Cuts : Read more

 

[NuclearShadow]

Ouch, that is quite the bad news and certainly Panasonic isn't the only one that is going to do some layoffs. I do hope that things work out and those jobs become open once again in the future.

 

[bit_user]

That's a shame and I hope it doesn't affect their products' quality. Panasonic has always been my favorite brand for A/V equipment. Whether it's plasma TVs or DVD players, they've never let me down. Consistently some of the best products, without the premium price of Sony.

 

[vk_87]

Already because of the quake, people would have lost quite a lot of stuff, now they find that they might also lose their jobs. Great....

 

[back_by_demand]

4.6% of the workforce, over 2 years.
A lot of this could be absorbed with a recruitment freeze, natural attrition, voluntary redundancy, etc.
17000 sounds a lot, but compared to the total workforce it's not that much.
Very few will be canned involuntarily.

 

[jrtolson]

i thought panasonic was a sub branded devision of matshuita? same as kenwood? and there are not many kenwood branded stereo's on the market these days.. if any

 

[wiyosaya]

[citation][nom]jrtolson[/nom]i thought panasonic was a sub branded devision of matshuita? same as kenwood? and there are not many kenwood branded stereo's on the market these days.. if any[/citation]
IIRC, Matsushita renamed itself, "Panasonic" a few years back due to brand recognition.

 

[cookoy]

what is more worrying is the possible closure of up to 20% of their manufacturing facilities

 

[eddieroolz]

This isn't good news at all. Japan is already in midst of a 20-year employment freeze...this is going to have a negative impact everywhere.

 

[neiroatopelcc]

I wonder if those people find new jobs anywhere on their islands?

 

[bin1127]

[citation][nom]neiroatopelcc[/nom]I wonder if those people find new jobs anywhere on their islands?[/citation]

I think they are talking about worldwide reduction. Overseas they have less people, but I don't think they need 350k just in japan. Asian manufacturing everywhere probably makes up a lot of it.

 

[thrasher32]

Panasonic employs 367,000 people?? Thats amazing!

 

[JohnnyLucky]

WOW! That's quite a price for one company to pay for recovery from a natural disaster and a nuclear disaster.