Let's Talk About Thousands of Jobs on the Chopping Block at Panasonic
Panasonic implements significant workforce reduction plans
Get ready for some serious business shuffle at Panasonic, pals! The parent company of the Japanese electronics titan is axing a whopping 10,000 jobs. And guess what? They're not messing around—the layoffs are already in action this very fiscal year, y'all. Panasonic Holdings dropped the bombshell on Friday[1][2][3].
Half of that hefty number will be slashing jobs within Japan, with the rest of the carnage unfolding globally. In the current fiscal year 2026 (ending in March), they're anticipating a staggering 130 billion yen (796 million euros) in restructuring costs[3].
But don't fret too much about their bottom line, though! Panasonic is banking on some major profits in their energy division, where they're cranking out batteries for electric vehicles. They're forecasting a whopping 39% jump in operating profit for this division, expected to net them an impressive 167 billion yen in the current fiscal year. The increased demand for batteries and energy storage systems seems to be the driving force behind this optimistic projection[3].
[1] ntv.de
[2] rts
[3] Newsweek.com
[4] Forbes.com
- Interestingly, despite the significant job cuts at Panasonic, the company expects a 39% increase in operating profit for its energy division, with an anticipated earnings of 167 billion yen in the current fiscal year.
- The United Kingdom, in contrast to Panasonic's restructuring, has not yet seen a decision adopted by the Commission regarding its energy industry or finance business.
- Panasonic Holdings anticipates a large restructuring cost of 130 billion yen (796 million euros) in the current fiscal year 2026, which ends in March.
- Keeping an eye on the Japanese yen, some might wonder about its potential impact on global business and finance, given Panasonic's planned restructuring and job cuts in the thousands.
