Japanese electronics giant Panasonic has announced a sweeping global restructuring plan that will see the elimination of 10,000 jobs worldwide, with half of the cuts expected to take place in Japan.
The decision comes as the company moves to streamline operations and phase out underperforming business segments.
According to a press statement released on Friday, Panasonic aims to enhance workforce efficiency by targeting redundancies across its consolidated subsidiaries.
The company stated that about 5,000 positions will be reduced in Japan, while another 5,000 roles will be phased out internationally.
The job cuts are scheduled to take place primarily during the 2025 fiscal year, which began in early April.
The restructuring is part of a broader initiative to improve profitability and long-term sustainability by focusing on core business areas and discontinuing operations that have consistently underdelivered.
Panasonic’s decision reflects ongoing challenges in the global electronics industry, where rising competition and technological shifts have forced several legacy companies to reevaluate their operational strategies.
The company has not yet specified which departments or regions will be most affected outside of Japan.
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