Panasonic

Walter Graff · February 4, 2009

http://money.cnn.com/2009/02/04/technology...sion=2009020404

TOKYO, Japan (CNN) -- Panasonic Corp., hard hit by the global recession, will cut 15,000 jobs by March 2010, the company announced Wednesday.

Half of the job losses will come from plants in Japan, with the rest from international workforce reductions. No breakdown of overseas job cuts was provided.

Panasonic (PC) also announced third-quarter financial results. The electronics company posted a net loss of ¥63.1 billion ($710 million). The company said it expects a loss of ¥380 billion ($4.25 billion) for the fiscal year ending March 31.

Panasonic joins fellow electronics giant Sony (SNE) in forecasting an operating loss. Last month, Sony warned it will close out the fiscal year with an operating loss of ¥260 billion ($2.9 billion), its first in 14 years.

Delorme Jean-Marie · February 4, 2009

still 315,000 workers left worldwide !

maybe not all at custumer service thow.

Walter Graff · February 4, 2009

still 315,000 workers left worldwide !
maybe not all at custumer service thow.

Yea, I think its more their manufacturing side that will get hit since sales are down. They are shutting 27 plants worldwide. Already closed one in the US.

Not good to be Japanese these days with the Yen rising as others fall on top of the global crisis. Hitachi repeated its forecast that it would post a $7.8bn loss for the year. Sony's profits fell 95%. 95%!!!! Toshiba Corp expects a loss of $3.1 billion. Tough time right now whatever you are doing.

Paul Bruening · February 5, 2009

Man, this stinks. Do you think the world can pull itself out of this without using the usual world war option? We may all be "shooting" in a different way in the future. This is when it's good to be 4F.