Panasonic Layoffs 10000 Jobs Globally in Major Restructuring Plan to Boost Profit by 2.1 Billion UsD

Japan’s electronics giants Panasonic Holdings have decided to cut 10,000 people in their global workforce, with 5,000 jobs to finish Japan and 5,000 overseas. The company says this trimming will affect around 4% global workforce. This decision has been taken with the aim of reducing costs, increasing operational efficiency and improving profit margin. Panasonic believes that this restructuring will see a profit improving of $ 1 billion by March 2027 and $ 2.1 billion by March 2029.

Reuters report UnderPanasonic says that this layoffs will be between March 2026 from now. The company has said that the trimming will be mostly done with sales and indirect operations, which will include merging sites, shutting down losses and voluntary retirement schemes for some employees. The process will be completed according to the local labor lodge in all countries.

CEO Yuki Kusumi of Panasonic has said to leave 40% of his own salary. The report states that he said in an interview to Japan’s Nikkei newspaper that “If we have to be at the forefront of the industry, then these are important steps.” Panasonic made it clear in a statement that his focus is now on creating an organization where every employee has more production.

Through this restructuring, Panasonic will also work on the loss -running business, merging duplicate departments and optimizing IT investment.

Panasonic is now focusing on its resources on high-civilian area such as artificial intelligence, biometrics (such as face recognition systems) and energy storage. The company is also working on facial recognition technology for Expo 2025 Osaka.

The company believes that this restructuring will give them a profit of about $ 1 billion, of which $ 483 million will come from only job cuts. However, Panasonic also said that these estimates are likely and real figures will depend on the number of employees and other factors.