Japanese Panasonic to cut 10,000 jobs in global restructuring push

Japanese electronics conglomerate Panasonic has announced a sweeping global restructuring plan that will include the elimination of approximately 10,000 jobs across its domestic operations and international subsidiaries.

The move marks one of the company's most significant workforce reductions in recent years, Caliber.Az reports via Russian media.

The layoffs will primarily impact the company's sales and management departments, as Panasonic seeks to streamline operations and cut costs amid shifting market dynamics and declining profitability in key sectors. As part of the restructuring, Panasonic is reportedly preparing to exit the television manufacturing business — a once-flagship segment that has become increasingly unprofitable due to fierce competition and changing consumer preferences.

The decision underscores the company’s shift away from traditional consumer electronics toward more profitable ventures such as automotive batteries, smart home technologies, and industrial systems. In addition to pulling back from TV production, Panasonic plans to reevaluate its overall strategy for the development, manufacturing, and distribution of household appliances.

By Naila Huseynova