Rumor: Panasonic to Close Shanghai Plasma Panel Factory
DoNews, 7/13/12
Panasonic's previously announced layoff plans reportedly may include closing its plasma panel production facility in Shanghai this year.
Panasonic recorded a net loss of nearly USD 10 bln in 2011, with total losses for the last four years reaching USD 15 bln. Panasonic's newly-appointed president Kazuhiro Tsuga has implemented workforce reduction and corporate restructuring measures to cut operating costs, with layoffs already reaching 36,000 worldwide. The company may also reduce its headquarters staff from approximately 7,000 to several hundred.
Keywords: Kazuhiro Tsuga HR corporate restructuring hardware plasma loss Panasonic production facility display
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