Panasonic Manufacturing shutters two manufacturing depts at Shah Alam plant

KUALA LUMPUR: Panasonic Manufacturing Malaysia Bhd has announced the closure of two product manufacturing departments at its Shah Alam 1 plant.

In response to a recent news article, the electrical appliances manufacturer said none of the other departments or plants have been affected.

Panasonic said in a statement the closure of the facilities was in line with a rationalisation exercise and business restructuring completed on March 31, 2023.

Accordingly, it said a nominal number of employees within the affected departments were provided with the option of a mutual separation scheme (MSS).

Panasonic said a significant number of the affected staff voluntarily accepted the MSS option.

"As an organisation dedicated to maintaining a culture of respect and responsibility, we have been engaging closely with our employees on this matter while providing assistance and support throughout the process.

"During this rationalisation exercise, those employees who opted for the MSS have received fair and equitable compensation packages which are above industry norms," it said.

Meanwhile, employees who did not opt for the MSS have been provided with an offer to be transferred to other relevant departments within the company, in positions that suit their skill sets and potential for growth.

Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Panasonic , manufacturing , appliances , downsize , MSS , factory


Next In Business News

Softbank to grow global IoT business in Apac
Allianz Asia Pacific opens regional delivery centre in KL
Malaysia's refined fuel consumption growth set to slow down over next decade - BMI
Malakoff invests RM2.5bil to develop 500MW solar projects within five years
Chinese developer SCE Group seeks offshore debt restructuring after default
Asia stocks slump as bond selloff spooks markets
Oil dips on high interest rate worries, Opec+ panel awaits
SC, Agriculture Ministry set up steering committee to help agropreneurs
SoftBank CEO Son says artificial general intelligence will come within 10 years
Sell-off continues as surging bond yields sap investor appetite

Air Pollutant Index

Highest API Readings

    Select State and Location to view the latest API reading

    Source: Department of Environment, Malaysia

    Others Also Read