The Japanese technology giant Panasonic plans to extend the disturbed activity sectors and its workforce by thousands, because it aims to reorient itself for a technological era which is no longer dominated by its traditional electronics.
On Friday, in a statement, Panasonic said that it would reduce around 10,000 jobs worldwide, around 4% of employees, mainly during the financial year that started in April. Cups include 5,000 jobs in Japan and 5,000 abroad. As part of its efforts to strengthen profitability, the company declared that it “promoted the cessation of loss companies without any prospect of improving profits”.
Founded in Osaka over a century ago, Panasonic maintained a range of companies in televisions and digital cameras with mobile phones and kitchen appliances. Formerly a leader in consumer electronics, the company in the past two decades has faced how to redirect its tentacular operations.
Panasonic's profitability began to decrease in the mid -2000s, leading to significant losses in the early 2010s. Under its former president, Kazuhiro Tsuga, who assumed the role in 2012, the company reduced companies in difficulty such as plasma televisions. In mid-2010, Panasonic was no longer bleeding from red ink.
Since he succeeded Mr. Tsuga in 2021, the current president, Yuki Kusumi, continued this strategic overhaul, aimed at freeing money to invest in new areas of growth. Under M. Kusumi, the group has invested large sums of money in factories to provide car manufacturers like Tesla with batteries for electric vehicles.
Panasonic has also worked to increase its presence in software and artificial intelligence technologies. This was highlighted by its acquisition of more than $ 7 billion from the Software Company based in Arizona, Blue Yonder, which was finalized in 2021.
Friday, Panasonic said that it expects restructuring costs of approximately $ 895 million for the current financial year. Panasonic said that thanks to its revisions, it aims to improve the benefits of at least 1 billion dollars.
