Panasonic To Cut 10,000 More Jobs

Panasonic layoffs job cuts
Panasonic layoffs job cuts

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.