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Industry News Articles

Panasonic plans to axe 8,000 staff

15 November 2012

Panasonic is to axe 8,000 jobs by the end of March 2013 as it continues its restructuring plans.

The company has already axed 38,800 staff and the additional cuts will mean that about 13% of its workforce has been eliminated in two years.

Panasonic chief financial officer Hideaki Kawai said that a fifth of the firm's 88 business units were losing money and that only half of the units had met a target set by company president Kazuhiro Tsuga to achieve at least a 5% operating profit target within three years.

Panasonic's television business has suffered from a decline in competitiveness. Other Japanese electronics makers, such as Sony and Sharp, have also felt the effects of a shifting market, and this has led the firms to look at different sources for revenue.

According to the head of panel displays at Panasonic, Yoshio Ito, the division should return to profit in the three months to March 31 due to a refocus on selling LCD panels to makers of tablets and PCs.

Borer's FUSION Time Recording System

With a high number of employees on payroll, using Borer's FUSION Time Recording System will help reduce management involvement and the administrative effort required to manage a time management scheme.

It is labour demanding to manage and maintain a centrally administered or paper based flexitime system. Invariably, queries arise in relation to flexi balances and the process can become a very complicated one, particularly for the HR department.

Implementing an automated time and attendance system makes things very easy for both employees and their managers alike.

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Access Control Systems using Power over Ethernet (PoE) Technology from Borer