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TMCNet:  Panasonic to cut 1,000 information-related jobs

[January 01, 2014]

Panasonic to cut 1,000 information-related jobs

(Japan Economic Newswire Via Acquire Media NewsEdge) OSAKA, Jan. 1 -- (Kyodo) _ Panasonic Corp. plans to eliminate about 1,000 employees, who represent two-thirds of the company's division for in-house information system development, on July 1, sources familiar with the matter said Wednesday.

The struggling electronics maker is considering transferring some 500 workers each to business partners Fujitsu Ltd. and IBM Japan Ltd., while selling Panasonic Information Technology Solutions Co. to Fujitsu, according to the sources.

Panasonic plans to request the transfer on condition it will outsource most of its intranet development and security operations to the two companies.

Having incurred massive net losses in the past two fiscal years, Panasonic is trying to outsource unprofitable businesses to other companies.

Last year, Panasonic announced plans to sell its health care business unit to U.S. investment fund Kohlberg Kravis Roberts & Co. and to sell its loss-making chip operations to Israel's Tower Semiconductor Ltd.

(c) 2014 Kyodo News International, Inc.

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