20 Oct '11, 4am

Panasonic to trim money-losing television business, cut more than 1,000 jobs

Panasonic to trim money-losing television business, cut more than 1,000 jobs

Japan's Panasonic is to sharply scale down its money-losing television business and cut more than 1,000 jobs, Japanese media reported on Thursday. -- PHOTO: REUTERS TOKYO (AFP) - Japan's Panasonic is to sharply scale down its money-losing television business and cut more than 1,000 jobs, Japanese media reported on Thursday. The leading electronics manufacturer plans to cease production of plasma panels at its No. 3 plant in Amagasaki, Hyogo Prefecture, by March, according to Jiji Press, Kyodo News, the Yomiuri Shimbun and NHK. The company was also considering selling its LCD display panel plant in Mobara, Chiba Prefecture, possibly to one of its domestic rivals, according to local media, who all cited unnamed sources. The plan will come with more than 1,000 job cuts through an early retirement programme in an aggressive effort to revamp its TV business, which has been losi...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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Panasonic to trim TV business, cut 1,000 jobs

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