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Panasonic to lay off 10,000 employees globally amid restructuring
Panasonic Holdings Corp. says it will lay off 10,000 domestic and overseas employees, or just under 5 percent of its total workforce, as part of restructuring its business.
Panasonic Holdings Corp. said Friday it will lay off 10,000 domestic and overseas employees, or just under 5 percent of its total workforce, as part of restructuring its business. Kusumi added that he would strive to "build an organization in which every employee is highly productive," while also revealing that he would return approximately 40 percent of his compensation. Panasonic first carried out layoffs in 2001, when it was still named Matsushita Electric Industrial Co., offering early retirement to around 13,000 employees in response to a worsening business performance following the bursting of the information technology bubble.
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