Panasonic cuts 15,000 jobs
Panasonic has announced it is cutting 15,000 jobs, around five per cent of its workforce, and shutting down 27 factories worldwide.
Panasonic Corp., sinking into its first annual loss in six years, said Wednesday it was slashing about 15,000 jobs and shuttering 27 plants worldwide, joining a string of Japanese companies making deep cuts as they cope with the global slowdown.