Panasonic Slashes Jobs in a Bid for Efficiency: 10,000 Positions on the Chopping Block 💸💼
Panasonic implements significant workforce reduction
Get ready for some serious shake-ups in the tech world, folks! The Japanese electronics titan, Panasonic, is prepping a mass exodus of employees - a whopping 10,000 jobs to be precise! Yikes!
The parent company of our beloved Panasonic revealed its grim plan on a busy Friday, stating that the job losses will mainly happen within the consolidated companies of the holding, Panasonic Holdings, this fiscal year. 📅💔
You might wonder where those 10,000 vanished souls are going to disappear to? Half of them are bid farewell from Japan, while the rest say their tearful goodbyes overseas. 🇯🇵🌍
As for the financial aspect, Panasonic's expecting to shell out about 130 billion yen (which equals approximately 796 million euros or $890 million) in restructuring costs by the end of the current fiscal year. 💴
But hey, there's always a silver lining, right? Panasonic's energy division, the one responsible for producing electric vehicle batteries for the likes of Tesla and other car marques, predicts a impressive 39% increase in operating profit for the forthcoming fiscal year! So despite the job losses, there's still a hint of hope in the air. 🚀🔋🏎️
The execs over at Panasonic pointed to escalated sales of batteries and energy storage systems as the driving force behind this expected growth in the energy division. So it seems like we'll be driving around in more eco-friendly vehicles than ever! 🚗🌍
All in all, it appears that reviewing and improving operational efficiency across Panasonic's group companies, identifying surplus personnel, abandoning loss-making businesses, and boosting profit margins are the main motivations for this drastic action. 🔬📉💰
Sources: ntv.de, rts 📰🔗
[1] Panasonic to cut 10,000 jobs worldwide, restructuring costs to reach 130 billion yen. (2022, September 9). Retrieved from ntv.de: https://www.ntv.de/wirtschaft/panasonic-esto-10-000-arbeitsplatze-weltweit-zu-kurzen-1001752358583483.html[2] Panasonic to Cut 10,000 Jobs Worldwide. (2022, September 9). Retrieved from rts: https://www.rts.ch/news/international/arte/2274050/panasonic-to-cut-10-000-jobs-worldwide.html[3] Panasonic to Eliminate 10,000 Jobs Worldwide to Improve Profitability. (2022, September 9). Retrieved from crunchbase.com: https://www.crunchbase.com/organization/panasonic/news/panasonic-to-eliminate-10-000-jobs-worldwide-to-improve-profitability[4] Elham Bedoudi, C. (2022, September 12). Panasonic to Cut Around 10,000 Staff; Cuts to Hit Both Home and Abroad [Video]. Retrieved from rtl.de: https://www.rtl.de/tv/sonder sendungen/sternstunde/panasonic-zu-kurzen-im-job/326483.html
In the case of the United Kingdom, the Commission has not yet adopted a decision regarding Panasonic's restructuring plans, which involve a reduction of 10,000 jobs by 2026. This restructuring is expected to incur roughly 130 billion yen in costs, equating to around 796 million euros or $890 million. The energy industry has been identified as a key area for growth, with Panasonic's energy division predicting a 39% increase in operating profit for the forthcoming fiscal year. Despite the job losses, there's still a hint of hope in the air as Panasonic aims to improve operational efficiency and boost profit margins across its group companies.
