Panasonic Holdings to Cut 10,000 Jobs Globally -- Update

Dow Jones

May 09, 2025

By Kosaku Narioka

Panasonic Holdings plans to cut about 10,000 jobs globally as it reviews operational efficiency at each group company.

The Japanese electronics maker said Friday that it would re-evaluate the numbers of organizations and personnel needed, and terminate loss-making businesses that have no prospect of improving profit.

Panasonic said the measures would be carried out mainly in the fiscal year that started in April and target 5,000 employees in Japan and 5,000 employees overseas.

As of the end of September, Panasonic had about 229,000 employees worldwide.

The Japanese company said it expects restructuring costs of 130 billion yen, equivalent to $891 million, for this fiscal year.

Panasonic said it aims to improve profit by at least Y150 billion for the fiscal year starting in April 2026 through restructuring, compared with the year that ended March.

Write to Kosaku Narioka at kosaku.narioka@wsj.com

(END) Dow Jones Newswires

May 09, 2025 04:29 ET (08:29 GMT)

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