Panasonic Holdings Corp. announced plans to reduce its workforce by 10,000 employees as part of its strategy to enhance profitability by eliminating non-growth operations. The Osaka-based company intends to cut 5,000 jobs in Japan and another 5,000 overseas, primarily within the current fiscal year. This move is expected to result in approximately ¥130 billion ($895 million) in restructuring charges by March. Panasonic’s decision reflects a broader trend among companies aiming to streamline operations and focus on core business areas amidst economic challenges.
— new from Bloomberg.com
