Tokyo: the Japanese giant of the Panasonic electronics, which provides batteries in Tesla, said on Friday May 9, it will target 10,000 job cuts worldwide as part of efforts to strengthen profitability.
The cuts, which represent approximately 4% of the group's workforce of almost 230,000, will be implemented mainly during the En Marche en Marche en Marche, he said.
Panasonic said that it “would fully examine the operational efficiency of each group company, mainly in the sales and indirect services”.
He “re -evaluates the number of organizations and staff in reality,” said a statement.
“This measure targets 10,000 employees (5,000 in Japan and 5,000 abroad) in consolidated companies”, and will be executed “in accordance with labor laws, the rules and regulations of each country and region”.
The cuts will come from the consolidation of sales and indirect operations as well as sites, commercial layoffs and employees in Japan who have early retirement, he said.
He said he plans to reserve restructuring costs of 130 billion yen (896.06 million US dollars) this commercial year in the context of the overhaul.
The restructuring of the company aims to achieve a return on equity – a measure of profitability – of 10% by the financial year ending in March 2029.
Panasonic also said that he will target an operating profit in groups in groups of at least 600 billion yen during the financial year on March 31, 2027, partly due to a recasting of his consumer electronic business, the cessation of loss of losses and the rationalization of computer investments.
Almost half of the restructuring costs will be reserved in its lifestyle activity, which includes domestic electronics and heating and ventilation systems, and 40% in “other” companies, including its Holding company. He did not expect to reserve restructuring costs in his energy company.
