<ul><li>Panasonic plans to reduce its global workforce by 10,000 employees as part of a large-scale restructuring initiative, evenly impacting Japan and international locations.</li><li>The job cuts aim to streamline operations and boost efficiency in response to weakening demand and changing market dynamics.</li><li>Panasonic reported a 17.5% drop in annual profit, prompting the company to shut down operations, initiate early retirement programs, and focus on profitable segments like EV batteries.</li><li>As part of its recovery plan, Panasonic aims to increase profits by 150 billion yen by March 2027 and 300 billion yen by March 2029 through restructuring and market-aligned operations.</li></ul>

Panasonic to cut 10,000 jobs in major global restructuring effort

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