Investing.com -- Panasonic (OTC:PCRFY) Holdings (TSE:6752) is set to reduce its global workforce by approximately 10,000 as part of its plan to enhance operational efficiency across all group companies.
The Japanese electronics manufacturer announced on Friday that it would reassess the number of required organizations and personnel, and shut down businesses that are consistently unprofitable with no potential for profit improvement.
The company revealed that these measures would be predominantly implemented in the current fiscal year, which commenced in April.
The job cuts will equally affect both domestic and international employees, with 5,000 positions to be eliminated in Japan and another 5,000 in its overseas operations.
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