Panasonic’s U.S. workforce could feel the pain if the company goes through with massive job cuts at its headquarters in Japan.
Reports say the company is considering eliminating 7,000 jobs, largely through early retirements or reassignments.
Back in February, Panasonic said it wanted to reduce its global headcount by 4.6 percent, to 350,000 workers, notes The Wall Street Journal. Those cuts would be in addition to the ones being contemplated at headquarters.
Greater clarity on where the global cuts may come was provided in Panasonic’s annual business policy report, released earlier this month. Layoffs in the struggling TV business would likely be one of the cost cutting measures. It would also help achieve the company’s goal of “eliminating losses” in its unprofitable semiconductor and optical pickups business.
But Panasonic’s IT staff may find comfort in knowing the electronics company plans to focus on smartphones and eco cars. Panasonic’s report says:
Industrial Devices Company, working with the Corporate Device Application Division, will strengthen its ability to understand customers’ needs proactively and propose solutions by capturing market needs and trends in a timely manner and actively get itself involved in the early stage of product development such as conceiving and designing processes at customers. The company will take this proactive marketing approach, focusing on rapidly-growing areas, including smartphones and eco cars.
Panasonic’s systems and communications unit, meanwhile, is planning to bolster its integrated network business — meaning security and the cloud — and is aiming to ramp up the global expansion of its solutions business.