Panasonic to reduce 10,000 jobs in great revision

The Japanese tech giant Panasonic is planning to make thousands of business lines and its workforce, because it wants to re -seek itself for a technological era that is no longer dominated by its traditional electronics.

In a statement on Friday, Panasonic said that it would reduce around 10,000 jobs worldwide, mainly within the tax year that started in April. As part of his efforts to strengthen profitability, the company said that “the termination of loss -making companies would promote without the prospect of improving profit.”

Panasonic was founded in Osaka more than a century ago and has maintained a range of companies, from televisions and digital cameras to mobile phones and kitchen appliances. Once a leader in consumer electronics, the company has been struggling over the past two decades with the reorienting of its vast activities.

Panasonic’s profitability began to fall in the mid -2000s, with considerable losses in the early years 2010. Under his former president, Kazuhiro Tsuga, who took the role in 2012, the company cut struggling companies such as Plasma televisions. Against the middle of the 2010, Panasonic no longer bleed red ink.

Since Mr Tsuga’s succession in 2021, the current president, Yuki Kusumi, has continued this strategic overhaul, aimed at freeing cash to invest in new growth areas. Under Mr Kusumi, the group has invested large sums of money in factories to provide car manufacturers such as Tesla with batteries for electric vehicles.

Panasonic has also worked on increasing his presence in software and artificial intelligence technologies. This was emphasized by his more than $ 7 billion takeover from the Arizona -based software company Blue Yonder, which was completed in 2021.

On Friday, Panasonic said it expects the restructuring costs of around $ 895 million for the current financial year. Panasonic said it is because of his revision, it aims to improve the profit by at least $ 1 billion.