Panasonic Cuts 15,000 Jobs

Panasonic Cuts 15,000 Jobs

Panasonic has announced it is cutting 15,000 jobs, around five per cent of its workforce, and shutting down 27 factories worldwide.



Panasonic has said it is shutting down 13 production facilities in Japan and 14 more around the world, although it declined to say which countries would be hit hardest. The shutdowns will be concluded by 2010.

“The current financial crisis originated in the United States has spread across the world and the company’s outlook of the business environment has been extremely uncertain,” said the company in a statement.