Panasonic Stock News

May has only just begun, but already, it has not been a good month for the tech industry in terms of layoffs. Since the month started, several prominent names in technology have announced layoffs, some involving a significant number of workers.

Electronics maker Panasonic Holdings is trimming 10,000 jobs from its workforce. The company announced the job cuts as part of a broader effort to increase its profitability moving forward.

Panasonic will lay off 10,000 employees in 2025, targeting 5,000 jobs in Japan and another 5,000 overseas. The Osaka-based group, which employs nearly 230,000 people globally, is restructuring its operations after reporting a 17.5% drop in net profit to ¥366 billion for the year ended March 31.

The Japanese electronics company posts fiscal fourth-quarter earnings per share of about 23 cents from sales of $14.2 billion. Wall Street was looking for about 12 cents and $13 billion, respectively.

Panasonic said on Friday it planned to cut 10,000 jobs this financial year. The Japanese company said in a statement that the measures were aimed at boosting its efficiency.

The Japanese electronics maker said it would re-evaluate the numbers of organizations and personnel needed.

Japan's Panasonic Holdings said on Friday it will cut 10,000 employees and expected to book structural reform costs of 130 billion yen ($896.06 million) this business year as part of a continuing management reform push of its group.

Der japanische Elektronikkonzern Panasonic JP3866800000 will mit einem Sparprogramm seine Ergebnisse verbessern und sich stärker auf sein Servicegeschäft konzentrieren.