Panasonic Plans 8,000 Job Cuts Amid Second Straight Loss
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Panasonic Corp. plans to cut 8,000 jobs in the second half of this fiscal year as the Japanese TV maker restructures amid falling demand and a rising yen.
The company, which eliminated 8,871 jobs in the six months ended Sept. 30, is planning further cuts by March 31 to speed up the reforms, Atsushi Hinoki, a Tokyo-based spokesman, said by phone. The expense for the job cuts is already included in the company’s forecast for an annual loss of 765 billion yen ($9.6 billion), he said.