Panasonic to Cut 17,000 Jobs
Panasonic will undertake a restructuring in which it will cut 17,000 jobs and close 70 factories, the New York Times reported Thursday. The closings will take place around the world, over the course of the next two years.
The company will cut its five main business lines down to three, executives told the Times. The company will do more purchasing of LCD panels from outside vendors and do more overseas production.