- Image via Wikipedia
The harsh reality of the recession lingers on.
Panasonic Layoffs
Today, Panasonic, the world’s biggest electronics maker, announced that it will layoff about 15,000 people. The company also predicted its first loss in six years as the worsening economy shrinks demand for things like TV’s and cameras.
Panasonic now joins Sony in laying off thousands of people and reducing overhead as consumer spending drops around the world.
The company, based in Osaka, Japan, also lowered its revenue forecast by 8.8 percent.
“Earnings have just been atrocious all around, while the massive scale and rapidity by which profits have evaporated is surprising,” said Naoteru Teraoka, who oversees $21 billion at Chuo Mitsui Asset Management Co. in Tokyo.
“There’s no way to make up for the harsh environment simply by restructuring.”
I guess LaidOffCamp may get a few more members.
Related articles by Zemanta
- Panasonic cuts 15,000 jobs (msnbc.msn.com)
- Panasonic to slash 15,000 jobs (money.cnn.com)
- Panasonic to Cut 15,000 Jobs (nytimes.com)
- Panasonic to cut 15,000 jobs (cnn.com)
- Panasonic set to cut 15,000 jobs (news.bbc.co.uk)
Get Blippitt via RSS feed, Facebook, Twitter, Google+,
and be sure to get our Daily Email Broadcast.
