Panasonic Group announces layoffs of 12,000 people
Kyodo News reports: Panasonic Holdings announced on February 4 that it is expected to lay off 12,000 employees both domestically and internationally. This measure is part of a structural reform.
The initial target was set at about 10,000 people, but the number of people who wished to retire early exceeded expectations. With the rising costs of the reform, the consolidated net profit for the fiscal year ending March 2026 has been downgraded from the previous estimated 260 billion yen to 240 billion yen.
Junji Kajikawa, a director, stated at an online press conference regarding the layoffs: "Saying that personnel cuts will not cause chaos is lying."
At the same time, the consolidated financial results for the fiscal year from April to December 25 show that sales fell by 8.1% to 5.8837 trillion yen, and net profit fell by 56.6% to 125.2 billion yen.
Due to the deterioration of the U.S. electric vehicle market, sales and profits from automotive batteries have declined. Kajikawa said he "expected the electric vehicle market to gradually recover in the future."
Original: toutiao.com/article/1856195746410505/
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