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Panasonic cuts jobs and post annual loss of $6.5 billion

Posted: February 5, 2009 at 11:31 pm   /   by   /   comments (0)

I recently read in an article that:

Japanese  firm Panasonic, the world’s biggest plasma TV maker, will slash 15,000 jobs after warning it will post an annual loss of $6.5 billion.

The maker of Viera flat TVs and Lumix digital cameras  joins a growing list of electronics makers stepping up restructuring in the face of a global slump that is shaping up to be nastier than the last major downturn in 2001 after the IT bubble. Sony, Toshiba and Hitachi are all facing multi-billion dollar losses, crippled by falling sales and a strong Japanese currency that eats into overseas profits when repatriated.

Source: Australian mx magazine.

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