Panasonic will reduce its global workforce by 10,000

Panasonic reduces 10,000 jobs worldwide in an attempt to increase efficiency. Referring to a delay In the growth of EV and the deterioration of profits in the air conditioner sector, with two of the challenges currently facing, the Japanese company will make staff cuts during the current financial year, which ends in March 2026.

In a statement Issued today, it has been revealed that the structural reform will be directed to 5,000 employees in the home country of Panasonic and 5000 abroad. The company says it expects to bear costs of $ 130 billion (about $ 900 million) due to the cuts. Panasonic said “will review the operational efficiency in every group company in detail, mainly in sales and indirect departments, and will revalist the number of organizations and staff that it really needs.”

As a Result of the Shrinking Its Workforce and Revamping Its Consumer Electronics Business, Panasonic Aims to Achieve An Adjusted Operation Profit of At Least 600 Billion Yen ($ 4 Billion) in the But That Dosn’t Take Into Consideration Any Potential Impact From The Trump tariffs.

Panasonic makes a variety of products from EV batteries it supplies to Tesla, to its user cameras and TVs. Panasonic TVS returns to US last year After a 10-year absence but the company has rIndicated that it would be ready to leave the sector completely if it continues to be performed more.