💨 Abstract

Panasonic announced plans to cut its global workforce by 10,000 employees, or 4%, to streamline operations. The job cuts, affecting both Japan and overseas, include early retirements and operational consolidations. The company also reported a 17.5% drop in annual profit to 366 billion yen, citing a slowing global economy and reduced demand for electric vehicles.

Courtesy: wtop.com

Summarized by Einstein Beta 🤖