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Panasonic to Cut 17,000 Jobs Over Next Two Years
By Alvin Soon - on 29 Apr 2011, 11:03am

Panasonic to Cut 17,000 Jobs Over Next Two Years

Panasonic has announced that it will cut 17,000 jobs over the next two years.

The company, formerly known as Matsushita Electric Industrial, is restructuring to compete with South Korean and Chinese rivals in an industry that is increasingly focusing on emerging markets. It is also eliminating redundancies caused by its acquisitions of Sanyo Electric and Panasonic Electric Works, which were completed this year.

Read the full story over at the New York Times.


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