Panasonic to Slice More Jobs, Shed Units PDF Print E-mail
Written by Mike Buetow   
Wednesday, 09 January 2013 09:14

LAS VEGAS -- Panasonic president Kazuhiro Tsuga yesterday said additional layoffs may be in store for the money-losing electronics giant. Some non-core business units could be sold to raise cash, he added in remarks at the Consumer Electronics Show here.

The company plans to tighten its focus on business-to-business products such as car batteries, entertainment systems for airplanes, and LED lighting, Tsuga said. His comments come as Panasonic, Japan's largest commercial employer, has seen its market share in such consumer products as flat-panel displays dive over the past year.

Left unstated were Tsuga's plans for Panasonic Factory Automation Solutions, the company's electronics assembly process equipment unit. The executive is supposed to clarify the company's strategy by the end of its fiscal year in March.




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