Panasonic Reports Loss And Lays Of 15,000 Workers

Posted: Feb 4 2009, 7:21am CST | by , Updated: Aug 11 2010, 12:55pm CDT, in News | Technology News

 
Panasonic reports Loss and lays of 15,000 Workers
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The bad company earnings reports do not stop to come in. Now Panasonic announced a loss of 63.1 billion yen ($707.2 million) and says to cut 15,000 employees until 2010.
15,000 employees are 5% of the global Panasonic workforce. The company also plans to close 27 manufacturing sites. Looks like most companies really did not see this coming as many report losses and have not been able to cut cost in time to stay profitable.
Via the WSJ. if you want to dig into the numbers you can get them at the Panasonic site.

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<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Luigi Lugmayr () is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
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