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Electronics

Panasonic to cut 1,700-plus jobs in Japan and Singapore

Ax comes down as technology group logs operating margin below 4%

Panasonic's announcement that it would shed 700 workers in Singapore was followed the next day by the news that more than 1,000 workers had applied for its early retirement program in Japan.   © Reuters

SINGAPORE/OSAKA -- Panasonic has decided to eliminate hundreds of jobs at home and abroad as part of a wide-ranging restructuring in response to lackluster earnings.

The Osaka-based technology group said Thursday that it will cease production of refrigeration compressors in Singapore by the end of September 2022. This will affect 700 workers, or roughly a third of the head count in the city-state. The manufacturing capacity will be moved to existing plants in Malaysia's Malacca and China's Wuxi.

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