Panasonic To Cut 10,000 More Jobs

Panasonic Corp., Japan's biggest commercial employer, will lay off 10,000 more workers in the fiscal year ending in March 2013, in a bid to trim costs and boost profitability at close to 100 business units, a fifth of which are losing money, its chief financial officer told Reuters.

Panasonic is aiming to bolster its group operating profit to at least 200 billion yen ($2.52 billion) in the year starting in April 2013, Hideaki Kawai said at Panasonic's headquarters in Kadoma, near Osaka in western Japan, on Wednesday.