By Admin 
Jobs Cut: Japanese electronics veteran Panasonic, who supplied battery to Tesla between Indo-Pak tension, has made a big announcement. The company on Friday announced the trimming of 10,000 employees worldwide. It is four percent of about 230,000 employees working in the company. The company has taken this decision keeping in mind the profit. & Nbsp;
Company is preparing to review & nbsp;
Panasonic said that all group companies will be reviewed, especially sales and indirect departments. Apart from this, the number of organizations and staff will also be revalled. The company aims to cut jobs of 5000 employees in Japan and 5000 employees from other countries. However, during this time the company will follow the rules and regulations applicable in every country. & Nbsp;
Prepare outline of management reform program
The company that makes all electronic appliances ranging from cooker to TV and freeze is a well-known name from house to house today. Osaka based this company is the main supplier of battery for Tesla, the company that makes electric vehicle of Elon Musk. The company is also connected to housing, energy and auto sectors. Panasonic has prepared an outline of a management reform program to solve several structural issues in the company in February. & Nbsp;
The company worried about profit and decline in sales
On Friday, the company said, through this reform program, the company aims to increase its profit to at least 150 billion yen ($ 1 billion). In its entire year income report released on Friday, Panasonic has estimated a decline of 15 percent in the profit and eight percent decline in sales this year. & Nbsp;
In an interview given to Nikkei Newspaper of Panasonic Holdings, Yuki Kusumi, Japan’s Nikkei newspaper said, “To perform better than other companies, the employees are required to be trimmed to perform better.”
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