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Panasonic / Layoffs to come

Japan’s Panasonic Corp may see its headcount fall further and may sell non-core money-making business units to raise cash, president Kazuhiro Tsuga told reporters at the CES consumer electronics show in Las Vegas on Tuesday.

Hammered by competition from South Korean rivals such as Samsung Electronics, Panasonic may also squeeze wages and seek joint ventures in its semiconductors and other struggling operations in a bid to rekindle profit growth, Tsuga said.

Shares in Panasonic slipped 1.4 percent to a two-week low in Tokyo morning trade, compared to a 0.4 percent increase on the benchmark Nikkei average.

The Panasonic chief said in an earlier keynote speech he would pursue strategies to expand business-to-business sales of car batteries, in-flight entertainment systems, hydrogen cells, solar panels and LED lighting.

Choosen excerpts by Job Market Monitor from

Times of India

via Panasonic planning layoffs, cutting salaries – The Times of India.

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Discussion

2 thoughts on “Panasonic / Layoffs to come

  1. Unfortunate situation for those laid off, almost will be cut on employer lower category.
    Crisis affecting the loss of competition in the market is products not only of the terrible decisions made at headquarters but also the descent from the senior staff, generating success based on the effort made menial employees, higher-ranking officers are rewarded with promotion, and improvements in their salaries, the only category with less redundancy and average participation in the bonus with the lowest level.
    This situation is well known by the regional authorities and do absolutely nothing, where is the code of ethics? but even if an employee questions or complaint to a senior staff is fired.

    Posted by Engue | February 14, 2013, 12:30 pm

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  1. Pingback: #Mography 10 – Panasonic Guest Blog at Royal Mail Google+ HDR playing Hide-And-Seek Using Eyes with @Michaeljburgess & @DPRConnect « Mography Photography Podcast - January 9, 2013

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