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Business trends

Panasonic to cut over 1,000 domestic jobs in planned structural reform

Group sales fell below 7 trillion yen for the first time in 25 years

File photo shows the head office of Panasonic in Osaka Prefecture.   © Kyodo

OSAKA (Kyodo) -- Panasonic will eliminate more than 1,000 jobs in Japan at the end of the month through an early retirement program as part of its planned structural reorganization, a company source familiar with the matter said Friday.

The voluntary retirement program targeting employees who have worked for 10 years or more will be implemented as the company reforms its business divisions on Oct. 1, ahead of its transformation into a holding company next year.

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