The Japanese giant of Panasonic technology plans to extend the disturbed activity sectors and its workforce by thousands, because it aims to reorient itself for a technological era which is no longer dominated by its traditional electronics.
On Friday, in a statement, Panasonic said that it would reduce around 10,000 jobs worldwide, or around 4% of employees, mainly during the financial year that started in April. Half of the cuts will be in Japan and half abroad. As part of her efforts to strengthen profitability, said the company, she “will promote the cessation of loss companies without any prospect of improving profits”.
Founded in Osaka over a century ago, Panasonic maintained a range of companies, televisions and digital cameras with mobile phones and cooking devices. Formerly a leader in consumer electronics, the company in the past two decades has faced how to reorient its operations.
Panasonic’s profitability began to decrease in the mid -2000s, leading to significant losses in the early 2010s. Under its former president, Kazuhiro Tsuga, who assumed the role in 2012, the company reduced companies in difficulty such as plasma televisions. In mid-2010, Panasonic was no longer bleeding from red ink.
Yuki Kusumi, who succeeded Mr. Tsuga in 2021, continued this strategic overhaul, aimed at freeing money to invest in new areas of growth. Under M. Kusumi, the group has invested large sums of money in factories to provide car manufacturers like Tesla with batteries for electric vehicles.
Panasonic has also worked to increase its presence in software and artificial intelligence technologies. This was highlighted by its acquisition of more than $ 7 billion in Blue Yonder, a software company based in Arizona, in an agreement completed in 2021.
Panasonic said on Friday that he was expecting restructuring costs of approximately $ 895 million for the current financial year. Panasonic said that thanks to his revisions, he aimed to improve the profits of at least 1 billion dollars.