Panasonic set to book $3.9 billion annual loss:
Japan's Panasonic Corp is set to book a $3.9 billion annual net loss, a source with knowledge of the matter said on Monday, as the electronics maker suffers slumping demand and growing costs for plant closures and other streamlining steps.
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.