Panasonic mulls over shrinking its HQ workforce

TOKYO: Panasonic Corp, which posted a record net loss in the business year just ended, is mulling fresh job losses on top of 17,000 recent lay-offs as the Japanese electronics conglomerate looks to engineer a profit rebound, a source said.

Following restructuring at its plants and other facilities, next in line is the company’s headquarters, the source with knowledge of the deliberations said. Rather than redundancies, however, staff may be shifted to other units, subsidiaries or affiliates, the source added.