Panasonic to cut 17,000 jobs, close 70 factories

By Emil
Apr 28, 2011
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  1. Japanese consumer electronics giant Panasonic is cutting about 17,000 jobs and closing up to 70 factories around the world over the next two years, according to Reuters. Panasonic President Fumio Ohtsubo said the company will streamline operations to boost profitability, including selling some of its businesses, and reduce its nearly 367,000 workers to 350,000 by the fiscal year ending in March 2013.

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